Big Bullets Board of Trustees says it is in the dark on the contents of the K500 million Nyasa Manufacturing Company (NMC) and Big Bullets five-year sponsorship agreement.
The trustees have since demanded that the sealed contract should be made available to all stakeholders before the Extraordinarily General Meeting (EGM) set for tomorrow in Lilongwe.
NMC and Bullets signed the contract in January this year and seven months down the road, the contract is still sealed.
Trustees general secretary Jim Kalua confirmed having requested the copy of the contract this week.
He also admitted that it was odd for the executive to sign a third party contract which the truste-s have no access to.
“There is lack of coordination from all arms due to lack of terms of reference (ToRs). As trustees we have never been furnished with this important document.
“But we hope it will be available by Saturday when we go for the EGM. The EGM is here to clear these issues and give proper direction to avoid a repeat. We will put the house in order after this EGM.” he said.
In an e-mail which we have seen, the trustees vice-secretary Victor Msowoya asked Nyasa Big Bullets executive committee to furnish the trustees with the document.
The email reads: “You may wish to note that most of the current executive committee members, supporters committee and the trustees do not have a copy of the agreement and, therefore, deem it very pertinent that such a document be released so that all the said arms of Big Bullets structure have the full knowledge of the sealed agreement document.”
Msowoya argued that knowledge of the contents of the agreement will help the stakeholders to deliberate matters well at AGM.
“You may appreciate as well that by doing so, both parties will be able to clear the myth that is hanging in many stakeholders’ minds on the limits and boundaries of each party.
“It will also clear the uncertainty and allegations of monetary hearsays since other stakeholders will be in the know of what was supposed to be done by the sponsor or partner.
“Your utmost action and cooperation in this matter will be highly appreciated for the sake of transparency and accountability,” reads the email in part.
Some of the uncertainties the stakeholders want clarified include allegations that the contract gives the sponsors a cut from the sales of replicas, dividends arising on the promotion from the brand, and a cut-off point of the K25 million from the K100 million annual sponsorship.
Nyasa Big Bullets general secretary Kelvin Moyo confirmed the development but said the request would be respected before tomorrow’s EGM.
“The contract is sealed. I also do not have access to it.”he said.
Bullets is currently in a crisis in which players are demanding their signing- on fees amounting to K43 million.