Nyasa start meeting BB takeover conditions
Nyasa Big Bullets have said the club’s new owners Nyasa Manufacturing Company’s (NMC) move to buy a Marcopolo luxury coach and start settling the team’s debts, is proof of its commitment to meet the terms as outlined in the memorandum of understanding (MoU).
Bullets general secretary (GS) Albert Chigoga yesterday said the eagerly-awaited state-of-the-art coach is expected to depart Johannesburg, South Africa, today and would arrive Saturday.
“A team of our officials, including the chairperson Noel Lipipa, his main supporters committee counterpart Stone Mwamadi and secretary Mabvuto Chibambo travelled to South Africa to collect the bus.
“Nyasa Manufacturing Compay has also gradually started off-setting verified debts as per the MoU and this shows the level of their commitment to breathe a new lease of life into the team,” he said.
The People’s Team GS said the bus will translate into a significant cut in travel costs, “as we currently have to hire a bus.
“The benefits of the bus are both functional and emotional because apart from saving on travel costs, it is also a source of prestige for a team with such rich history. It will also be a source of motivation for the players,” he said.
NMC managing director Dimitri Kalaitzis said the luxury coach will ease transport problems, but said he was not sure how much it cost.
According to the MoU, NMC will take full control of the team for the first five years after which they will list it on the Malawi Stock Exchange (MSE) and own 70 percent shares while the remaining 30 percent will be offered to any supporter, investor or public.
Oher conditions for the takeover include acquiring or constructing a stadium, training ground with indoor facilities, three club houses (one in each region) and regional offices.
It also includes setting up an academy, distributing 10 percent of the club shares to supporters at a nominal value, inclusion of directors appointed by the supporters in the board and allowing other partners to invest in the team.
