TNM overspent on league by K40 million
TNM have disclosed that they overspent their budget in the 2013-14 Super League season by pumping in K105 million (US$251 196), instead of the initial K65 million (US$155 502) sponsorship as stipulated in the contract.
TNM head of marketing Sobhuza Ngwenya in an interview with The Nation attributed the incident to inflation which led to price rise of football equipment.
He said TNM spent an additional K40 million (US$9 567) at the end of the league season.
“The issue of inflation is valid because the major part of the sponsorship covered football equipment for the clubs, referees and players. The equipment included footballs, football kits (shorts, jerseys, goalkeeper gloves, socks, etc), among others,” said Ngwenya.
He also revealed that in the 2012-13 season they also overspent by K24 million as a result of inflationary factors that led to the devaluation of the kwacha.
Ngwenya also announced that in the 2013-14 season, clubs made K12 million (US$ profit in the TNM Sapota Mapeto Promotions.
“As we launch the 2014 season, Sapota Mapeto gives all the 15 clubs in the league a great opportunity to generate funds for their operations.
“We encourage clubs to take a more active role in the promotion. For instance, all TNM Super League clubs were able to generate K12 million (US$28 708) with TNM Sapota Mapeto during the last season,” said Ngwenya.
He said clubs stand to benefit more in this exercise and in the long run be able to generate more funds that can go a long way to cover operations costs.
