THE Mainland Premier League side, Young Africans' leadership has moved back members meeting to January 19, next year. The meeting was initially scheduled for this Saturday.
Yanga General Secretary, Lawrence Mwalusako, revealed that the meeting had been postponed to allow members and other associates of the club get actively involved in the preparation ahead of the Independence Day celebrations this Sunday.
Mwalusako cited another reason for the postponement of the annual general meeting as the ongoing talks between the club's management and a prominent company, aimed at soliciting funds to facilitate the meeting. He said the company has also been tasked with raising about 200m/- to 300m/- to bulk up the club's financial base.
"It's due to these obligations, the company asked for extension of time so that they can do their job more efficiently," Mwalusako said. "I know we have been postponing this crucial meeting regularly but this is down to loads of things that have happened here in the club," said Mwalusako, who was reading a statement issued by Yanga Chairman Yusuf Manji.
Mwalusako reiterated that there are various issues to be discussed during the meeting with more emphasis on players' registration ahead of the second half of the top flight season. However, the hot debate within the club is rounded on income and expenditures.
Yanga sacked Belgian coach Tom Saintfiet, who was in power for barely two months in charge, before hiring Dutchman Ernest Brandts. The club had to dish out over 200m/- in terms of compensation for breaching the contract. The amount dug a huge hole in the club's financial statement.
The Premier League incurred a 74.2m/- loss for the past three months, a club financial statement issued recently revealed. The club's financial statement showed that from mid July to mid October this year the club income was 1.042bn/- that was fetched from various sources including grants, gate collections, sponsorship, trade mark licensing, prize money and member registration fee.
The statement further indicated that the Jangwani Street-based club use 126m/- as salary and wages for the club. The report showed that the club fetched 12,144,000/- though trademark licensing fetched and in gate collection for September and October the club received 190,731,132 or about 18.3% of club income.
Receipts of the club showed that grants amount was 601,373,185 which is 57.7%, other income arising from prize money, where club earned 55,300,000/- (about 5.3per cent), while registration of members brought in some 2,529,000/- which helped to bring the total to 1,042,077,317.
Yanga prepared the report following change of management under Chairman Yusuph Manji and General Secretary Lawrence Mwalusako, the first time it has done so since the club was established in 1935. Yanga are on top of the standings with 19 points, five more than Azam and six over title holders Simba.