15 June 2017

Malawi: Broke Bullets Calls Emergency Meeting Over Cash Squeeze

Nyasa Big Bullets has called for an extraordinary general meeting (EGM) this Sunday for the domestic football powerhouse discuss financial crisis.

The club's secretary general Albert Chigoga conceded they are in "a deep crisis."

"We have reached a point whereby we can't hide anymore that we have a financial crisis," said Chigoga.

He said the club may blow all the K500 million sponsorship from Nyasa Manufacturing Company by next year which was intended to run for five years.

Chigoga said the Sunday meeting will review the financial position of the club and identify solutions.

He said the sponsors cannot be blames as they continue to release cash every month but the club has "huge debt" over K120 million.

Club sources say some of these debt figures have no supporting documents.

NMC board chairperson Konrad Buckle said it was difficult for them to comment until the EGM.

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