Mighty Wanderers supporters committee tasked to register 5m fans to be reserved with 15% of shareholding

Mighty Wanderers supporters committee has been tasked to mobilize 5 million fans nationwide who shall be registered into paying a yearly agreed subscription fee to Wanderers Football Club 2021 Limited to demonstrate their ownership.

This is contained in the memorandum of agreement which the newly incorporated Mighty Wanderers FC 2021 Ltd has with the team’s executive, the supporters committee and the Board of directors to help improve the financial standing and sustainability of the Club.

Upon attaining the 5 million registered and fully paid members, the limited company shall reserve at least 15% of the shareholding in the Wanderers Football Club Limited and it shall be expected to grow the numbers from 2021/22 with support from the Board.

The supporters committee shall continue to determine their own operational terms of reference and shall be assisted to register as a company limited by guarantee.

In the same breath, the committee shall be responsible for the good conduct and discipline of all registered supporters. In accepting to lead the limited company as its president, Thom Mpinganjira asked that he does not want squabbles in all committees and that he does not want supporters who are violent because Wanderers were known for its good discipline in the past.

The memorandum stresses that the supporters committee or any individual supporter shall not interfere in any manner in the affairs of the limited liability company once registered but they shall be regularly consulted on the goings-on of the football team, and may raise their concerns through their representatives on the Board.

The registered supporters club shall enjoy prescribed benefits, privileges including reduced payment for the club merchandise and reduced entry into football matches.

The current supporters committee shall continue to hold their regular elections and by-elections until the supporters transform into a Trust.

In their fan base mobilization, the committee shall be required to inspire Wanderers supporters countrywide to support and promote the business of whoever shall enter into any partnership with Wanderers Football Club Limited and to promote the brand of the would-be sponsor or partner.

The memorandum tasks the supporters to also commence their own commercialization activities with some proceeds accruing to the football club.

The leadership of the main Wanderers Social Club, based along Lali Lubani Road at Chichiri, shall be offered an initial 15% of the shareholding on the strict understanding that the Wanderers Football Club Limited shall continue to run the social club at a profit for a minimum period of 5 years.

The Wanderers Social Club Trustees are mandated not to interfere in the running of the limited company expect in providing necessary advice for its better management and that the Trustees may acquire more shares in the football team when they become available.

The football team, which now shall be under a management team to run its day to day football affairs, shall continue to use the club premises as their operational base.

At its first Board of directors meeting held on Friday, the team’s executive committee was dissolved but its former chairperson, Chancy Gondwe is to lead the caretaker management team until the end of this season when a proper process of identifying a suitable team will take place.

Former team manager, Limbani Magomero was appointed as administration manager; commercial manager is Dokani Ngwira; finance manager is Adelaide Migogo while the public affairs manager is Ernest Maganga.

Other posts, as according to the memorandum of agreement, shall be the chief executive officer and technical manager and that all committees shall be balanced gender inclusive.

The football team’s management team shall serve a maximum period of two football seasons subject to the Board’s discretion, which shall also determine terms of references for each one on the management team plus exceptive output.

The Board may consider assigning appropriate remuneration to each such position holder when finances of the team improve but for a start, the process is on voluntary basis.

The management team shall be responsible for initiating the hiring of technical staff, suitable players and necessary support staff as required by the team and in keeping with the requirements of club licensing.

In hiring or off-loading of technical staff, support staff and redundant football players, the management team shall always seek the written authorization of the Board, which shall also regulate the the transfer of players for both international and local market.

The management team shall be required to submit regular performance reports to the Board and shall present an annual budget, and audited accounts for the year — four weeks after the closure of the season.

The Board shall at any time dissolve or re-organize the management team in case of persistent poor results by the football team or in cases where there is noticed poor management or poor internal relationships.

Its CEO shall be required to attend on invitation Board meetings as an ex-officio if not already serving as a director in his own right and the CEO may call for an extra-ordinary Board meeting upon giving appropriate notice through the president or shorter notice in the event of a looming crisis or for such an emergency that may not require notice.

The management team shall operate a transparent budget system where the Board shall maintain control of all bulk unallocated funds or resources.

Members serving on the management team — but are directors in their own right — shall continue to serve on the Board, except that they may not vote on issues brought by the management team.

The communique from Mpinganjira issued after the first meeting on Friday, said the “Board is indebted to all those that have championed the cause of this commercialization drive and all those that have continued to support the team with their financial, material or just vocal support”.

“The Board would like to request everyone to continue helping the team as it transforms and in due course the Board will announce names of directors in each Board sub-committee after carrying out necessary initial rationalization to ensure nearer equal numbers exist in each board sub-committee.”

The Board also includes MP Susan Dossi, Mwaonanji Kavalo, Lumbani Mtonyo, Makhumbo James Mapunda, Gift Mkandawire, Mervin Nkunika, Samuel Mponda, Simon Sikwese, Minister Timothy Pagonanji Mtambo among others.

At the press conference last week, Mpinganjira — one of the country’s most successful businessmen — said the football team will be a subsidiary of other money-making business ventures the company is eyeing to pursue.

He said the company is set to rope in multiple sponsors and not just be branded by a particular corporate sponsor as was the case in the past when the team trended as Yamaha Wanderers to Limbe Leaf to MTL and finally to Be Forward.

Mpinganjira earlier this year financially bailed out the team to pay the players’ salary arrears from his personal pocket. The Nomads had been struggling financially after the withdrawal of sponsorship from Japanese second car dealers, Be Forward.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
1 Comment
newest
oldest most voted
Inline Feedbacks
View all comments
Baghdad
Baghdad
9 months ago

Nyerere kutuluka ku una

Read previous post:
Minister laments unfinished projects

Minister of Health, Khumbize Kandodo Chiponda, has expressed dismay over a number of unfinished projects under her ministry, some of...

Close