BB trusteeship was dissolved—Busilley

Former Nyasa Big Bullets board of trustees chairperson James Busilley has explained the absence of the trustees at the club’s extraordinary general meeting (EGM) on Saturday, saying the trusteeship was dissolved as part of the commercialisation drive.

The absence of the trustees at the EGM led to the delay of the meeting after some delegates questioned their absence claiming that they were not aware of the dissolution.

But after some consultations, the meeting went ahead and endorsed the team’s takeover by Nyasa Manufacturing Company (NMC).

Busilley said: “It was agreed during the previous EGM that the trusteeship should be dissolved and that process was done.

“So, there is no issue. If I had gone to attend the EGM, I would have done so in my personal capacity, but I wasn’t invited.”

The club’s general secretary Albert Chigoga said he has a copy of a letter which Busilley and trustees secretary Jim Kalua signed, endorsing the dissolution of the trusteeship.

“In fact, according to the constitution, trustees have no role in an EGM but the executive and supporters.

“People should not try to build a mountain out of a molehill. The EGM made a decision and it is time to implement the resolution, we cannot move backwards just because of a few greedy individuals who want to advance their personal interests at the expense of the club,” he said.

The club’s main supporters committee chairperson Stone Mwamadi also said the trusteeship was dissolved following the consent of the chairperson and the secretary.

“And there is documentation to that effect,” he said.

NMC last week accepted an offer to take over the domestic football powerhouse at nominal value following a resolution that was made by the EGM held in Lilongwe on June 18 this year.

In a letter from NMC dated August 2 2017, co-signed by board chairperson Konrad Buckle and finance director Fleetwood Haiya and addressed to the club’s commercialisation steering committee chairperson Noel Lipipa, the cigarette manufacturing firm committed to accept the offer under some terms.

Among other terms, NMC committed to take over the team’s verified and confirmed debts and liabilities and that they shall be settled within six months. The club’s debt is now estimated to be in excess of K120 million.

“NMC also commits to undertake the following proposed projects:  (i) Acquire team bus within six months; (ii) Construct a team stadium of not less than 10 000 seater and the project shall be initiated within five years,” reads part of the letter.

It has also committed to acquire a training ground [within a year] and three club houses—one in each region—complete with regional offices within three years.

NMC has further committed to allow other business partners to invest in the team, set up an academy within a year, list the People’s Team on stock exchange within five years “and offer at least 30 percent to any interested supporter, investor or general public in the spirit of sustainable goodwill to truly become the People’s Team”.

“NMC further commits that supporters, through their appointed directors, will be part of the club even after the transfer of ownership.”