Deal signed and sealed! A cigarette manufacturing company has taken over Malawi’s most prestigious football team, Big Bullets, after the club officials signed the memorandum of understanding (MOU).
Nyasa Manufacturing Company (NMC) are currently the sponsors of the Bullets, who command the biggest fan base spread throughout the tiny and soccer-mad southern African nation, are now the real owners of the ‘Peoples’ Team’.
Albert Chigoga, who is general secretary of the 1967-founded team, said the interim executive committee led by Owen Lipipa and the supporters committee led by Stone Mwamadi signed the paperwork to hand over the team to Nyasa.
“Yes, all the paper work has been done by the club chairperson Noel Lipipa, myself, main supporters committee chairperson Stone Mwamadi, his deputy Chineni Agumbata and secretary Mabvuto Chibambo. We did put pen to paper and we are just waiting for the lawyers representing both parties to officially change the ownership at the office of the registrar,” said Chigoga.
He said until the end of the season, both the main supporters committee and the executive will continue to operate normally.
Nyasa board chairperson Konrad Buckle said they are ready to take full control of the club and list the People’s Team on Malawi 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.