VPF appoints new CEO: Governance lessons from banking for Vietnamese football

When Pakistan appointed a bank CEO, Vietnamese sports had no reason to look. But looking closely, the Imran Sarwar deal at National Bank of Pakistan (NBP) reveals a formula Vietnamese football lacks: governance transparency, strict approval conditions, and separation between leadership tenure and financial results. I was wrong to think football only needed on-field tactics. In reality, what happens off the pitch determines the sustainability of the entire league. Context: VPF (Vietnam Professional Football Joint Stock Company) is facing an important leadership transition. Like NBP must disclose through the PSX stock exchange, VPF must also report to VFF and shareholders. But unlike Pakistani banks, VPF's appointment process often lacks a 'Fit & Proper Test' – a competency and ethical fitness check that central banks apply to senior executives. In Pakistan, Imran Sarwar could not assume office without State Bank of Pakistan approval. In Vietnam, we have similar mechanisms but they are often formalistic. Core: Look at the numbers. NBP posted profit before tax of Rs67.3 billion and profit after tax of Rs32.4 billion in H1 2026, with EPS of Rs15.23. What makes the difference? It is the linkage between a 3-year CEO term and performance metrics. When a sports organization like VPF operates with revenue from broadcasting rights and sponsorship, applying similar governance models would help V-League escape the 'everyone for themselves' mentality. Based on my experience following matches, I notice Vietnamese clubs often change coaches mid-season without clear criteria, while other professional leagues tie contracts to specific objectives. Contrarian: Many argue football cannot be compared to banking due to its uniqueness. But I argue that this difference is precisely why Vietnamese football develops slowly. Esports and football: two arenas, one crowd learning to clap. If we apply banking-style risk management thinking, we would see that appointing a club CEO is no different from appointing a bank CEO – both require competency checks, criminal record verification, and development strategy. Takeaway: I believe in data, but I believe more in mistakes that data cannot measure. Pakistan has shown that a right appointment decision can create sustainable value. Vietnamese football needs a governance revolution, not just on the pitch but also in the boardroom. The question is: When will VPF apply a 'Fit & Proper Test' for club leadership positions?