YONI Epstein, chairman of Montego Bay United (MBU), has resigned “with immediate effect” as chairman of the finance committee of Professional Football Jamaica Limited (PFJL), citing “troubling” practices of the board.

He noted there were cases of the PFJL board “overriding financial recommendations formally advanced” by the finance committee.

In an April 9 letter addressed to the board, which was seen by the Jamaica Observer, Epstein, who said he was wary of putting his professional reputation on the line, added that the PFJL in instances prioritised “payments to its own members” before settling operational liabilities.

Epstein’s move is the second high-profile resignation from the PFJL this year after Livingstone Morrison stepped down as chairman at the end of February.

Donovan White, president of Waterhouse FC, was asked to act as chairman but only on an interim basis as based on the Memorandum of Understanding with the Jamaica Football Federation, the chairman has to be independent.

In the letter, Epstein said the decision to step away was not taken lightly.

“It is the direct consequence of a persistent and troubling pattern in which this board has chosen to override financial recommendations formally advanced by the finance committee — recommendations designed expressly to safeguard the company against the very real risk of insolvency.

“The finance committee’s mandate has always been to ensure that PFJL meets its short-term obligations to the operational creditors upon whom the league’s ability to function depends: Broadcasters, match officials, health insurance providers, and others whose services are integral to the running of a professional football competition,” he said.

Montego Bay club chairman added: “This board has repeatedly demonstrated a disposition to prioritise payments to its own members before settling these operational liabilities. This constitutes a fundamental breach of sound financial governance and directly undermines the financial integrity of the organisation.

“No finance chairman operating with professional and ethical standards can lend their name and authority to such practices.”

Epstein pointed to the proverbial straw that broke the camel’s back.

“The most recent decision by the board has made my position wholly untenable. With total cash reserves of J$7,600,000 available and outstanding obligations of approximately J$29,000,000 owed to creditors, the board has elected to direct J$5,600,000 — representing 74 per cent of all available cash — to club distributions, whilst the significant creditor liabilities that sustain the league’s day-to-day operations remain substantially unpaid. This decision is indefensible on any measure of financial prudence and, in my professional assessment, constitutes conduct inconsistent with the responsibilities of a properly governed company,” he explained in the letter.

“I have a professional obligation to ensure that my name and reputation are not associated with decisions that repeatedly disregard the advice of the finance committee and expose PFJL to serious financial and reputational risk. I will not allow my position as finance chairman to serve as a veneer of credibility for governance practices I fundamentally oppose. My integrity in this regard is not negotiable,” Epstein noted.

He said he is prepared to assist in the “orderly transition of the finance chairman’s responsibilities and to provide whatever handover documentation is required to ensure continuity”.

The businessman, however, urged the PFJL “to urgently address the creditor liabilities outstanding and to restructure its decision-making processes to bring financial governance in line with accepted standards before the organisation’s position deteriorates further”.

— Paul A Reid