Nyasa Manufacturing to take over Bullets

…waiting for EGM approval, a stadium to be constructed

Big Bullets sponsors Nyasa Manufacturing Company (NMC) have finally accepted to take full control of the club following the end of 60 days that the Extraordinary General Meeting (EGM) endorsed June in Lilongwe as one way of turning the club into a commercial entity.

According to information sourced by this publication, NMC Chairman Konrad Buckle advised the company’s Finance Chairman Fleetwood Haiya to accept the offer from Bullets Executive Committee which came up with the whole commercialization idea.

A document which Malawi24 has in possession indicates that once the takeover of ownership is completed, NMC will pay debts amounting to K115 million within 6 months, build a stadium, build a village for the club as well as inheriting the club from the current owners.

NMC has also promised the club that a new state of the art bus will be purchased within the next 6 months upon the completion of the process.

It has also been reported that NMC will list Bullets Football Club on Malawi Stock Exchange within the next five years and at least 30 percent of the shares will be offered to any interested supporter, investor or general public.

NMC has also promised that supporters will be appointed directors to be part of the club even after transfer of ownership which will officially be approved by the Executive Committee in the upcoming days.

Bullets General Secretary Albert Chigoga confirmed the development saying the process will go on smoothly following NMC’s willingness to take full control of the club.

The commercialization process was put on hold by the Executive Committee following the Supporters’ Executive Committee’s unwillingness to allow NMC to take over the club from them.