Nyasa Big Bullets FC board has shelved its plan to list the club on Malawi Stock Exchange (MSE) because as a company, they have not started making profits.
The People’s Team owners Nyasa Manufacturing Company (NMC) announced the ambitious plan when they took over ownership in 2017.
But the club’s vice-president Fleetwood Haiya said they are not yet ready for such an undertaking.
“When it comes to listing of the company, we are not ready now because anyone who would want to invest in a company would require to get a return at the end of the day.
“As we stand today, Nyasa Big Bullets will not give you a return.
“So, this is the reason we have delayed. But they are going to woo supporters to be involved in commercialisation drives such as supporters registration and buying the club’s merchandise,” he was quoted as having said by MBC Radio 2FM.
The Bullets veep said supporters need to take a role in supporting the club through active participation in commercialisation drives.
“This will ease the burden on owners of the club,” he said.
The club’s director responsible for supporters Stone Mwamadi said in an interview yesterday that they will intensify the membership drive now that Covid-19 cases have dropped significantly.
“It is true that the initial membership registration drive did not meet the expectations and this can be attributed to the approach we took.
“We are now going to change the strategy by reaching out to the supporters through the zones and regional coordinators that are now in place,” he said.
Mwamadi also said the other reason is that most supporters are used to getting free things such as replica jerseys, caps and T-shirts.
“We need to make them understand that the club is now running like a business and it can only prosper if they invest through the commercialisation drives,” he said.
Earlier this month, Haiya said the club’s supporters have not embraced the registration drive as expected.
He said although the People’s Team boasts the biggest fan base in the land, that is not being reflected in the club’s initiatives.
“According to our projection, we were expecting supporters to take an active role, but not even one percent of the projected eight million fan base,” said Haiya.