Big Bullets FC have already spent K15 million two weeks after President Joyce Banda donated K25 million to the club.
The development has raised eyebrows from the teams’ fans and trustees forcing but Bullets executive committee to convene a meeting on Wednesday at Shire Highlands Hotel in Blantyre where they defended the expenditure.
Vice Treasurer Brian Ligomeka said Bullets had paid the money owed to other clubs on players transfer.
He said Bullets had paid K7.5 million towards the outstanding players transfer fees back dated to the time of the previous administration headed by Malinda Chinyama.
“We have paid K7.5 million to pay players transfer fees for the players to invest in quality players who are the most prized asset for our club,” Ligomeka said.
“We also offered our players signing on fee to tie them down to mandatory contract demanded by Super League of Malawi (Sulom) and Football Association of Malawi (FAM).
He said the allegations that the current administration had misappropriated money was not correct.
“It’s not correct that the executive committee had misappropriated money as because every penny for every transaction is well accounted for,” he added.
He said the other money met expenses outstanding for debts they club owed for for services such as K1.5 million owed to Chenda Hotel.