9 August 2016 Last updated at: 5:08 PM
Bullets in commercialization drive
…looking for investors
Nyasa Big Bullets new Chairman Noel Lipipa says the club is set to go into serious commercialization by allowing investors to buy some shares with the aim of taking the team to greater heights.
Speaking during a joint press briefing with sponsors Nyasa Manufacturing Company (NMC) on Tuesday morning, Lipipa said Bullets needs serious commercialization to treat the club as a business entity.
He said it was high time the team started making billions from possible investors to move from the current state to a position where it will be able to stand without relying too much on sponsors.
“Commercialization is needed to take the club to another level. We will be looking for five investors to buy some shares as one way of investing into the team.”
“This will see us making money that will enable us construct a stadium for the club in line with plans of Nyasa Manufacturing Company,” he said.
Commenting on the development, NMC’ Chairman Konrad Bucckle said as sponsors, they would love to see the club to raise half a billion per year through commercialization.
“To commercialize, you need to have investors on board who will invest by having controlling stakes in the club. As Nyasa, we would love to be part of the commercialization process by buying shares so that we can take the club forward.”
“To be a strong club, we need to start making money for now and the future but this can only be made possible by coming up with creative ideas to try to look for problems at hand and solve them. We need to bring other sponsors on board who will be able to pay the monthly fee and look for ways on how to raise funds for the club, we need to invest,” he said.
During the briefing, Lipipa announced that his executive has obtained a K42 million loan from the sponsors to pay the players their signing-on-fee.
He said Bullets will pay back the loan in the next four years as the sponsors will be getting K10 million from the K100 million they recieve annually.