Mighty Wanderers say the actual package of their sponsorship deal with international money transfer firm Mukuru will be unveiled later in the week.
But it has been established that the South Africa-based financial services platform will pump in about K200 million in a year-long deal.
Confirming the deal, which includes naming rights, Nomads board secretary Humphrey Mvula said on Wednesday in an interview the contract was digitally signed last week.
He said: “But it will be difficult for me to disclose the package as we have reserved the value for the launch.
“During that launch, we are going to unveil other conditionalities as well.”
Mvula said the sponsorship is not exclusive as it does not cover the LaliLubani Road outfit’s annual budget which is in excess of K400 million.
“But it is a substantial increase on the K60 million sponsorship from Salima Sugar Company,” he said.
Mvula kept a tight lid on the package, but nevertheless confirmed it is more than double the amount they get from the sugar manufacturer.
He said: “But that does not mean we are looking down upon the support we get from Salima Sugar.
“Suffice to say we will still be looking for additional sponsors, but for now, Mukuru are our biggest sponsor.”
Mvula said the deal is initially for a year, but subject to renewal depending on meeting conditions.
He said the conditions include playing good and competitive football, no violence at matches where Wanderers are involved, discipline among supporters and help promote the Mukuru brand.
He said the sponsors also expects team’s leadership to maintain discipline.
“Mukuru will not be happy to see its brand damaged by associating with Wanderers,” said Mvula.
A statement issued by Mukuru on Wednesday announced three sports sponsorship deals which include Wanderers, English Premiership side Crystal Palace and South Africa’s Springbok legend Tendai ‘The Beast’ Mtawarira aimed at boosting its brand awareness, “while demonstrating the company’s commitment to excellence”.
The statement quotes Mukuru chief executive officer Andy Jury as having said: “We are excited to have struck a deal, in consultation with the Football Association of Malawi [FAM], with one of Malawi’s top Super League teams, Mighty Wanderers and with the naming rights, they will be called Mighty Mukuru Wanderers.
“Beyond the Crystal Palace deal, Mukuru wanted to demonstrate that even though the English Premiership represents the pinnacle of soccer achievement, leagues on the African continent are also home to incredibly passionate and proud players and fans.
“Malawi, which is one such example, also happens to be an important market for Mukuru as Malawian expatriates all around the world use the service to send money home to their loved ones.
“Malawi is home to millions of passionate fans and the opportunity to sponsor a Malawian team came at the right time to demonstrate our passion for home-grown success stories. We are excited at the prospect of having our name soar in the Malawian Super League.”
FAM president Walter Nyamilandu confirmed the association’s involvement in the deal.
He said: “We are delighted to have oiled the deal and that our efforts have paid off.
“When approached by Mukuru, we identified club sponsorship as one of critical needs that has to be addressed and recommended to Mukuru to sponsor Wanderers.”
Nyamilandu said they have been working behind the scenes with Wanderers to frame a viable value proposition and to negotiate a suitable sponsorship agreement for both parties.
“We are impressed by the passion shown by Mukuru and we warmly welcome them to Malawi football,” he said.
Nyamilandu said FAM strongly believes that Mukuru have made the right decision to invest in Wanderers and that the spin-offs will be huge as they levearge on the massive fan base of Wanderers.