Nomads to invest K10 million from JB donation
Mighty Wanderers have roughly spent K4 million (about $9 500) from President Joyce Banda’s K25 million (about $60 000) donation, but the Nomads hope to invest K10 million (about $24 000) in business.
The Nomads general secretary Mike Butao said this on Monday when asked how they would spend the money, which Big Bullets also got from the President and some K10 million has reportedly already been spent.
“We have tasked the marketing sub-committee to see how best we can invest part of the money. We are saying let’s take out K15 million for operational costs and invest the rest,” said Butao.
Wanderers have spent on Sparrow Msowoya and Tsanzo Dalio’s transfer fees from Blantyre United and Epac respectively, according to Butao.
If the President had not stepped in, officials would have contributed towards the buying of the players, he added.
Transparency and accountability is provided by the sufficient numbers of signatories for bank account transactions, Butao claimed. Wanderers’ executive committee, which ushered in some new faces, entered in office a few months with just K1 million (about $2 400) donated by Adra.
Roughly, a team needs K50 million (about $120 000) to finish a Super League season.
It is estimated that K500 million (about $1.2m) is pumped into football every year, but the figure should rise with K250 million (about $600 000) Carlsberg Malawi Limited injection into the Flames over three years.
