Chairperson of the committee that set up to ensure fulfilment of c onditions for Nyasa Big Bullets FC takeover, Noel Lipipa, says Nyasa Manufacturing Company (NMC) is yet to start meeting most of its obligations.The former Bullets chairperson, who also sits in the team’s current board of trustees, yesterday said they are planning to have a review meeting with NMC
management regarding the memorandum of understanding (MoU) that was signed in June 2017.review meeting with NMC
He said: “Apart from settling the debts, not much has been done and time is running out. Of course, we hear that they have bought a bus to replace the one that was broken down, but there has been no official confirmation.
“So, we are looking at having an assessment meeting [with NMC] on the progress of the MoU.
“But before we do that, we need to have our own meeting as a committee because we have not met since we were appointed for the task.”
Apart from Lipipa, other members of the committee include the club’s former trustees James Busile and Jim Kalua and the team’s current chief administration officer Albert Chigoga.
However, the club’s chief executive officer Escort Chinula told a press conference last week that the cigarette manufacturing firm is determined to fulfil the MoU.
He said: “This is a commitment which Nyasa Manufacturing Company board made and it does not want it to fail.
“The board will be meeting in due course to map the way forward.”
Among other terms, NMC committed to take over the team’s verified and confirmed debts and liabilities, which would be settled within a period of six months.
The debt, which was estimated to be in excess of K150 million, was settled by NMC.
They also committed to acquire a brand new team bus within six months; construct a stadium of not less than 10 000 capacity within five years, acquire a training ground within a year and construct three clubhouses—on in each region complete with offices—within three years.
NMC further committed to set up an academy within a year and list the People’s Team on stock exchange