Bullets devise strategy for settling debts
Big Bullets have come up with ways of settling their debt in the excess of K25 million ($43 937) incurred during their participation in the 2015 CAF Champions League.
Bullets treasurer Noel Lipipa yesterday said they are also planning to publish the list of creditors in the media.
He said they have come up with three ways of settling the debts.
“First, we have agreed that from gate revenue shares, a certain percentage will be going towards settling the debts. We are also planning to reach out to our fans through our WhatsApp page—’Friends of Bullets’— to donate towards the cause.
“As an executive, we have also agreed to be contributing something,” said Lipipa.
The People’s Team treasurer said they have decided to publish list of creditors as one way of quantifying the debt.
“People keep on coming up with claims. So, when we publish the list and there are others that have not been included then they can come and prove that we indeed owe them,” he said.
Lipipa said the other option will be to negotiate for the reduction of the amounts the way they did with TNM on the SMS promotion.
“But this will depend on their reaction. Otherwise, we have no choice but to settle all the debts. We have started settling some of the debts by instalments,” said Lipipa.
