Mighty Wanderers and Salima Sugar Company have sealed a K60 million partial sponsorship deal for nine months after about three months of negotiations.
Nomads chairperson Chancy Gondwe and Salima Sugar company secretary Charles Thupi on Wednesday confirmed signing the agreement.
The negotiations delayed because Wanderers sought an K80 million sponsorship, but they gave up after the sugar manufacturer stuck to K60 million as a ceiling.
In a give-and-take arrangement, Salima Sugar Company has accepted the club’s request for business opportunity using their product.
Said Gondwe: “I can confirm that we have concluded our negotiations with Salima Sugar and we have finally put pen to paper.
“This is partial sponsorship as we had initially indicated. It will take us to next March. From there, we will enter into long-term sponsorship negotiations.
“For now, we shall be engaging other potential partners as we still require a lot of money to finish the season.”
The Nomads chairperson said they are grateful to Salima Sugar Company for bailing out the club.
“We now urge all our supporters to buy the best natural sugar produced by Salima Sugar,” he said.
On his part, Thupi said: “They [Wanderers] have sent us a signed draft and we have proceeded by doing the needful.
“So, I can confirm that the partnership has officially started up to next March.”
On the impact of the two months delay to roll out the contract, the Salima Sugar official said: “Of course we might have wanted to roll out earlier, but the most important thing to us is that we will stick to our commitment in terms of the package.”
In a letter to the Nomads, Salima Sugar commits monthly disbursement of funds not exceeding K5 million as part of the agreement.
The letter reads in part: “The part sponsorship is aimed at easing some of the pressures the club is facing.
“We expect Wanderers management and supporters to exercise prudence and discipline.”
As part of the deal, Salima Sugar expect the Nomads to promote and market their brand.
The Nomads have been without a sponsor since the withdrawal of sponsorship by Japanese used cars exporter Be Forward Limited last December.