Winning the TNM Super League might have brought smiles on the faces of the Big Bullets supporters, but it has also attracted a swarm of creditors who are knocking on the club’s door.
Bullets owe several companies, individuals and organisations including Football Association of Malawi (FAM), Super League of Malawi (Sulom), a loan-shark and travel consultants over K20 million (about $30 971).
Bullets vice-general secretary Kelvin Moyo said the club was feeling the pinch of the debt.
Out of K15 million (about $23 228) prize money, K6 million (about $9 291) will be used to settle debts while players will share the rest.
“It has been hectic my friend. The consolation has been defending the championship,” Moyo said.
“Sulom want their K2.1 million. We were already told that the letter is on the way,” said Moyo.
Sulom general secretary Williams Banda, while confirming that Bullets owe them K2.1 million (about $3 251), said the letter had nothing to do with the K15 million prize money.
“It is not like we have targeted Bullets only,”Banda said yesterday.
“We have reminded all clubs that owe us that we want our money paid.”
FAM is also waiting for Bullets to honour an agreement on payment of the K 1.9 million (about $2 942) debt left by the former executive.
“But with FAM we have an agreement on how we will pay back the debt. We suggested that we pay K200 000 a month when the season is active,” Moyo said.
FAM administration and finance manager Christopher Mdolo said the agreement still stands.
Meanwhile, Bullets players will share 60 percent of the prize money.
“The rest is for the team to sort out its problems,” Moyo said.
While payment of FAM and Sulom debts can be negotiated, some of the creditors sued the club for damages and were only waiting for them to get substantial money to reinforce the payment of the debts.
To make matters worse, the People’s Team new sponsors Nyasa Manufacturing Company (NMC) will not help in paying past debts.
“The sponsor will start on a clean wage bill and most of the money will go towards players’ salaries and not debts from previous executive,” Moyo said.
The vice-GS, however, said they could have paid the debts if Sulom handed over broadcasting rights for their matches.
“That’s why we want our broadcasting rights. On average Sulom would have made over K6 million from our games,” Moyo said.
“That team needs help to come back on its feet economically with help from both Sulom and FAM.”
Bullets incurred the debts during the team’s 2015 CAF Champions League participation.n