Football Association of Malawi (FAM) and the Foundation for Irrigation and Sustainable Development (FISD) have officially signed a K40 million pre-contract for FAM cup which was vacated by Standard Bank a fort night ago.
On Saturday, Malawi24 established that Fisd resolved to sponsor the cup after the withdrawal of Standard Bank. And on Monday morning, the deal was signed and sealed at Chiwembe Technical Centre in Blantyre.
Fisd managing director Frank Mwenechanya said his organization will pimp in K40 million in the next five years subject to renewal.
“After hearing that Standard Bank have pulled out of sponsoring the cup, we thought it wise to rescue the situation.”
“It’s one way of saying thank you to Malawians for supporting us for the past ten years. Its a long term partnership and we will be reviewing the contract at the end of every campaign,” he said.
The Fa president Walter Nyamilandu described Fisd as true partners of Malawian football.
“With the current economic situation being experienced in Malawi, its not easy to pump in such amount to football but this local organization has decided to rescue us. They are true partners to Malawian football.”
“We are very grateful to them and we will take their name very far. We had nowhere to go after Standard Bank exit but here we are, new sponsors in the building,” said Nyamilandu.
He also added that all the 15 Super League teams will participate. “Every Super League team will take part in this competition,” he said.
The official signing ceremony will take place next month where dates for the kickoff will be announced.
Standard Bank pulled out a fortnight ago after sponsoring the cup for seven years saying the current economic situation in the country forced them to end their marriage with FAM.