Friday, January 22, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Sports National Sports

Nomads in trouble

by Garry Chirwa
06/06/2020
in National Sports
4 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Push comes to shove. Be Forward Wanderers fear that they could be forced to close shop as creditors continue to breathe down their neck.

The Nomads chairperson Symon Sikwese said this following Weekend Nation findings that the club’s K59 million debt, incurred during the 2018 CAF Champions League participation, has swelled to about K79 million in interest.

RelatedHeadlines

Super League break affects Flames coach’s plans

FAM ex-co approves women’s national league

Temwa’s transfer second highest in 2020

Their sponsor Be Forward Limited’s move to cut the club’s K150 million sponsorship by half due to effects of the coronavirus pandemic, has worsened their situation.

And as desperation takes its toll, the Lali Lubani Road outfit, which also has other debts in excess of about K150 million, has sought government’s intervention.

According to documents that we have sourced, when the Nomads travelled to the Democratic Republic of Congo (DRC) for their preliminary round fixture against AS Vita, they acquired air tickets on credit amounting to K22 million and the debt is incurring an interest of about K540 000 every month.

nomads | The Nation Online
Nomads players captured on arrival from DRC

In DRC, Wanderers asked AS Vita to foot their food and accommodations costs on the understanding that the Nomads would reciprocate in the return match.

The Nomads also had to pay allowances, travel, transport, food and accommodation costs for officiating and CAF personnel for their home game which only raised K7 million from gate revenue which was a far cry from the costs incurred.

An inside source said Wanderers also owes its lawyers legal fees and collection costs for lawyers of the service providers.

“All these costs have resulted in the initial CAF debt shooting from K59 million to over K79 million,” said the source.

However, while confirming that the creditors are on the club’s neck, Sikwese could not be drawn to comment further.

He said: “All I can say is the situation is getting out of hand for us and if we do not find a way out, we could be headed for a close down.”

The Nomads boss also confirmed that they have sought government’s assistance to help them clear the debt.

He said: “Yes, we approached government, but there has been no response yet. That is all I can say for now.”

But Principal Secretary in the Ministry of Youth Sports and Culture Chancy Simwaka said: “As government, we do not comment on issues to do with private companies. If anything, the onus is on the club to comment.”

Wanderers found themselves in a tight spot when their sponsors Be Forward Limited withdrew their commitment to bankroll the team’s participation in the continental showpiece at the last minute due to some logistical and administrative challenges.

The club then made a public request for financial assistance through the press and online media and received a K20 million offer from Muhammad Sidik Mia, which was later raised to include all our costs for participating.

 But the club was forced to turn down the offer by some of its trustees, who are affiliated to the government on the basis that it would have been inappropriate to accept an offer from an influential figure of an opposition political party.

The club’s former chairperson Humphrey Mvula, who was the adviser of the fundraising committee for the CAF tourney, said: “I am aware that Wanderers approached several people to help it meet the CAF fixtures, I am also aware that the President [Peter Mutharika] was approached via a letter. 

He said: “I was made to understand that one of those approached in the name of Sidik Mia, agreed to contribute to the total cost, but this offer was turned down because some trustees advised that the President would instead meet all expenses. 

“I am also meant to understand that several meetings took place between Wanderers and government officials represented by [former finance and economic planning minister] Goodall Gondwe and [former sports minister] Grace Chiume.

“Meetings have also taken place with some current officials, again without success, but meanwhile the team has a huge debt  that has accumulated interest.  I think the honourable thing that government can do is to settle the debt plus interest otherwise one is left with the impression that the intent was to manipulate Wanderers supporters to vote for APM. I trust this promise must be honoured before the next voting.”

Previous Post

MLS urges Parliament to act responsibly

Next Post

Wanderers cautions official over foul political comments

Related Posts

Mwase: Situation is very bad
National Sports

Super League break affects Flames coach’s plans

January 21, 2021
DD Sunshine (in blue) taking on Blantyre Zero during the national championship early this year
National Sports

FAM ex-co approves women’s national league

January 21, 2021
temwa | The Nation Online
National Sports

Temwa’s transfer second highest in 2020

January 20, 2021
Next Post
Mponda: They are interfering in my private life

Wanderers cautions official over foul political comments

Trending Stories

  • Escaped South African bail: Bushiris

    Bushiri says not seeking political intervention

    0 shares
    Share 0 Tweet 0
  • Malawi closes in on hefty US deal

    0 shares
    Share 0 Tweet 0
  • Vendors back on streets amid Covid-19 surge

    0 shares
    Share 0 Tweet 0
  • Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • Malawi loses 5% of GDP on donor withdrawal

    0 shares
    Share 0 Tweet 0

Opinions and Columns

Business Unpacked

Towards Malawi2063, lessons from Vision 2020

January 20, 2021
Rise and Shine

Never give up on resolutions

January 20, 2021
In pursuit of development

India’s vaccine drive

January 20, 2021
My Thought

Don’t relax, Covid-19 still here

January 17, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.