Nyasa Big Bullets FC has already spent about K41 million from its K100 million annual sponsorship allocation, living it with a K34 million balance as K25 million is for merchandise in accordance with the sponsorship agreement.
The development is one of the reasons Bullets supporters are demanding an extraordinary general meeting (EGM) so that the current leadership should explain how it has used the money.
Addressing the club’s zonal supporters committees’ chairpersons on Tuesday, main supporters committee head Stone Mwamadi said their concern is that at the rate they are going, the money might not be enough to last the season.
“I am not suggesting that the money is being mismanaged, but the picture that is coming out clearly is that we could be spending beyond our means
“Already the sponsors are complaining that we are overdrawing funds and when you consider that we are just about mid-way through the first round, then we have every reason to worry,” he said.
Mwamadi also said the remainder is also not enough to meet the players’ signing on fees amounting to K43 million.
At this point, one of the zonal supporters’ committee leaders, wondered where proceeds from gate collections are channelled to and in response, Mwamadi said: “That is one of the reasons we are calling for an EGM so that they can explain in detail because we expected proceeds from gate collections to complement the sponsorship.”
Bullets acting general secretary Kelvin Moyo confirmed in a separate interview yesterday that the balance from this year’s sponsorship is K34 million.
“The actual balance is K59 million but if we subtract the K25 million meant for merchandise, it leaves us with K34 million.
“The sponsorship alone might not be enough to cater for all our needs and that is why we are exploring other avenues of generating income such as membership drive and sale of merchandise,” he said.
Last month, the team’s sponsors Nyasa Manufacturing Company (NMC) expressed concern with the overdrawing of funds.
It came in the wake of the club’s move to request for more funding on top of its K6 million monthly allocation.
“This is the third time the club has come for assistance [outside normal monthly allocation] as regards salaries. As sponsors, we are not happy with the current situation as this is affecting the welfare of the players and, of course, our own partnership despite the players putting up a good show,” said NMC managing director Dimitri Kalaitizis.
However, the club’s finance committee chairperson Isaac Norman told Malawi Broadcasting Corporation (MBC) Radio One’s Sports Aloud programme on Thursday that the K6 million monthly allocation they get is not enough to cater for the team’s needs.
Soccer analyst Charles Nyirenda said the development mirrored shortcomings in terms of planning, saying: “If they had planned in accordance with their revenue, they couldn’t have been encountering such challenges. So, they need to go back to the drawing board.”n