Malawi’s most prestigious football team, Big Bullets have finalised a memorandum of understanding (MOU) that will pave way for a cigarette manufacturing company, Nyasa taking over the ownership of the club.
Nyasa Manufacturing Company (NMC) are currently the sponsors of the People’s Team.
Bullets, who command the biggest fan base spread throughout the tiny and soccer-mad southern African nation, has been without sponsorship for nine years since former president Bakili Muluzi sponsored them for two years.
“Lawyers representing the Nyasa Manufacturing Company and Bullets have finalised the takeover process which includes transferring of ownership fron trusteeship to Nyasa,” Albert Chigoga, who is general secretary of the 1967-founded team, said.
He said what is left now is the official signing ceremony.
“Everything has been finalised. Any day from now we will have the official siging ceremony,” he said.
Chigoga said both Nyasa and Bullets club are “delighted and contented” with the development.
According to Chigoga, the club’s executive committee led by Noel Lipipa and the board of trustees will be dissolved once the signing take place.
In an interview, the cigarette manufacturing company’s board chairperson Konrad Buckle confirmed that they are ready to take full control of the club and list the People’s Team on Malaw Stock Exchange within five years “and offer at least 30 percent to any interested supporter, investor or general public in the spirit of sustainable goodwill to truly become the People’s Team”.
.Nyasa also commits to undertake the following proposed projects: (i) Acquire a team bus within six months; (ii) Construct a stadium of not less than 10 000 seater and the project shall be initiated within five years,” reads part of the letter.
It has also committed to acquire a training ground [within a year] and three club houses—one in each region—complete with regional offices within three years.
NMC has further committed to allow other business partners to invest in the team, set up an academy within a year.
“NMC further commits that supporters, through their appointed directors, will be part of the club even after the transfer of ownership.” n
Most of the 16 teams in Malawi’s poorly-run amateur super league are sponsored by the Army, Police and government. The rest are owned by private clubs.Follow and Subscribe Nyasa TV :