Football Association of Malawi (FAM) has hailed Nyasa Big Bullets for going commercial saying this is the path that Malawian football needs to take in order to develop the beautiful game.
On 18th June, the Noel Lipipa led Executive Committee submitted a proposal to Nyasa Manufacturing Company (NMC) on things required by the club in the commercialization and ownership pact which the sponsors responded by showing interest to take full control of the club.
Now, the FA through its Commercial Director Limbani Matola has said this is what has been missing in Malawi football for so long especially at Bullets which is Malawi’s biggest club.
“The path that NMC Big Bullets have taken is very commendable. This is in total alignment with the much sought after commercialization drive.
“What we need in our game is to have clearly streamlined ownership with clearly defined commercially driven sustainable governance structures, which has conspicuously been missing in the people’s team for decades,” he explained.
He then pleaded with the involved parties to put everything in order during the process of changing ownership from the current state to the commercial entity.
Former General Secretary for Bullets Kelvin Moyo also hailed the development saying it’s a new chapter in Malawian football.
“This is the genesis of football development in the country, congrats to the Trustees, Executive Committee and Supporters Executive Committee for making this possible. This will bring a stable organization at the club. This is the way to go,” he told Malawi24.
Meanwhile, Bullets Executive Committee will hold an Extraordinary General Meeting (EGM) over the weekend to officially approve Nyasa Manufacturing Company (NMC) 70 percent stake in the team following the company’s willingness to fulfil what the EGM proposed in June this year as a condition of taking full control of the club.
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.