Nyasa Bullets FC have disclosed that they have a K200 million deficit as they need to raise at least K210 million to meet the team's budget estimated at K480 million for the forthcoming season from K300 million spent last season.
The People's Team chief executive officer (CEO) Fleetwood Haiya said they have a K210 shortfall.
He said apart from the sponsorship from the club would also be required to contribute and will embark on a marketing drive to ensure that they should also do their part towards the sponsorship as they hope to get K100 from cigarette manufacturing company, Nyasa, the owners.
They expect to raise K70 million through gate collections.
"We hope to raise from marketing drives such as sales of merchandise and space on our uniform and team bus," he said.
Haiya has said the club has also opened up to corporate industry to use any of the Nyasa players as their brand ambassadors to raise the money.
Meanwhile, the club is still waiting for Nyasa to build a stadium for it of not less than 10 000 capacity, but in the interim want to lease from government the Kamuzu Stadium in Blantyre together with their rivals Be Forward Wanderers.
Said Haiya: "We are in talks with relevant authorities to acquire land to construct our own stadium as well as a training ground and by next month, we should have made notable progress and we will inform you [the media] accordingly.
"In the same vein, we have agreed with our friends [Wanderers] to have a consortium and come up with a joint proposal to lease Kamuzu Stadium [in the short-term] so that we can be managing it for an agreed period."
The Bullets CEO said they also expect to have three club houses, a football academy and a training ground.
Bullets and Wanderers were formed in the 1967 and 1962 respectively, but for over 50, they have had no stadia.