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Big Bullets divided over take-over

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Divisions have reportedly rocked Nyasa Big Bullets over the secrecy surrounding the Memorandum of Understanding (MoU) which some Executive Committee members of the club signed with sponsors, Nyasa Manufacturing Company
(NMC), ahead of the takeover process.
Reports suggest that NMC wants 100 percent shareholding in the club, but some members are against the idea.
A source confirmed that some officials of the club, including the trustees, have since demanded a copy of the MoU from the Noel Lipipa-led steering committee.
“Nyasa is demanding full control of the team. We are suspecting that something big happened behind the scenes, so we want them to show us the copy of the agreement.
“Why are some members not transparent on the agreement?
We do not want to give them 100 percent because it could be dangerous in future,” a Bullets top official said.
The source said the divisions have delayed the hand-over ceremony of the ownership as well the new bus.
According to the source, NMC have also set tough conditions that they would only hand-over the bus after being assured of 100 percent take-over.
But some Bullets officials want the sponsors to have 60 percent so that the remaining shares should be up for grabs.
However, since June last year, the trusteeship has not been de-registered.
Reports suggest that Bullets might call for an annual general meeting to dissolve the trusteeship after the trustees shunned the extra-ordinary general meeting (EGM) in Lilongwe.
The trustees shunned the meeting, claiming that the club breached the 15-day notice.
For the take-over process to be complete, the trustees have to write the Registrar
General, dissolving the trusteeship. Bullets acting General Secretary, Albert Chigoga,
dismissed talk that there were divisions in the team.
“If some are spreading fabricated stories that we are divided, I would like to categorically deny that. We are working as a unit and we have resolved to forge ahead with the agenda to make the club self-sustainable and independent of personal interests,” Chigoga said.
Bullets Supporters’ Committee Chairperson, Stone Mwamadi, said the hand-over has delayed because the sponsors were outside the country on holiday.
“It is really sad that some people are enemies of development. We have been struggling for many years without sponsorship.
But some people are still not happy that Nyasa came in to rescue us,” Mwamadi said.
During the EGM held in Lilongwe in June 2017, the delegates unanimously agreed to transfer the ownership of the club to NMC so that the sponsors should look for partners.
NMC Director of Finance, Fleetwood Haiya, was not available for his comment.
As part of the agreement, NMC accepted to construct a mini-stadium and build three club houses for the team.
The take-over process started in February last year when the officials tabled the matter at Gymkhana Club in Zomba where they agreed to go commercial.
Bullets and NMC signed a five-year agreement worth K500 million with a huge chunk of the money already used in the first two seasons.
Last month, a group led by former Bullets officials took the matter of NMC takeover to court, arguing that the general meeting that arrived at the decision to hand over the company, did not follow procedures.

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