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3 bid for Masters Security takeover

ON SALE—Masters Security

Three business tycoons have made separate offers to take over ownership of 2018 Carlsberg Cup champions, Masters Security. Early this month, Masters Group of Companies announced that the club will be closing shop due to financial constraints.

The development saw owner and patron Alfred Gangata putting it on the market. The club’s General Secretary, Christopher Njeula, said they had received three offers for a possible takeover.

“Our executive committee will meet this week to consider what is on the table. As of now, there are three individuals who have shown interest in our club’s franchise,” Njeula said.

He, however, declined to disclose names of the suitors, saying the matter was being treated as private and confidential. “All I can say is that three businessmen have approached us, expressing their interest in buying the club.

We will discuss this matter thoroughly in the course of the week and probably by next weekend, I might be in a better position to give more details,” Njeula said.

He also declined to state the price at which the suitors would pay to take over the Lilongwe based side. “The cost of buying the club will depend on discussions with the potential buyers after evaluating the offers. I am not in a position to say how much we are selling the club, but all I can say is that we are talking about it,” Njeula said.

Masters were relegated from the TNM Super League last season alongside Mlatho Mponela and Dwangwa United.

The three failed to beat Central Region Football Association’s registration deadline some three weeks ago and were given a grace period which expires this month end.

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