Nyasa Manufacturing Company (NMC), sponsors of Nyasa Big Bullets, have said they will wait for a formal approach before they can react to the club’s extraordinary general meeting (EGM) resolutions passed in Lilongwe on Sunday.
The EGM overwhelmingly agreed to change the club’s ownership from a trust to a business entity to pave the way for sponsors NMC takeover.
NMC managing director Dimitri Kalaitzis yesterday said: “We have heard that this was what was resolved, but we will wait for a formal approach, for now that is all we can say.”
The EGM tasked the club’s chairperson Noel Lipipa to formulate a proposal for officially asking NMC to take over the club and initiate a fully blown commercialisation drive.
Delegates also resolved that Lipipa should be in charge of the ownership change which, according to the EGM, must be finalised in 60 days.
He has also been empowered to appoint a team he wants to work with during the project.
The chairperson has since said that, among other things, his team will set conditions for NMC or any other investor that wants to be in charge of the club.
“Some of the things we want are a stadium and a team bus. We want NMC or if it fails to takeover, any other investor that wants to be a majority share holder, to give us a time frame as to when the club will have such facilities in place,” he said.
But, overall, Lipipa was of the view that the change of ownership will be good for the club’s commercialisation.
One of the trustees, Kinnah Phiri, on his part, also welcomed the change but advised NMC to ensure that it brings on board business partners if the club is to be successful.
Bullets, registered as a trust, has been operating as a non-profit making club but the delegates hope that the new arrangement will ensure that the club generates revenue for its sustenance.
In a vote on whether to maintain or amend the constitution to change the ownership to a limited company, the delegates, mostly consisting of supporters drawn from across the country, voted 48-0 in favour of the amendment.
The EGM was called to find a solution to the financial challenges facing the club arguably with the largest fan-base and most delegates believed that commercialising the club was the best way.
In his contribution to the deliberations, main supporters committee secretary Mabvuto Chibambo said: “We cannot implement commercialisation initiatives if the club continues to be under a trust. This is why we need ownership change.” n