Charity revenue raises eyebrows
K20.3 million net revenue
Some analysts have expressed dissatisfaction with the revenue of the 2023 NBS Bank Charity Shield involving FCB Nyasa Bullets and Mighty Mukuru Wanderers at Bingu National Stadium on Sunday.
This comes after the Football Association of Malawi (Fam) released a report Tuesday, in which it indicated that gross revenue was K54, 619,655.
However, the analysts have questioned Fam’ expenditure on the event, saying it defeats the purpose of charity.
Sports analyst Parry Chinyama said the revenue was not a true reflection of the turn-out of fans at the match.
“The revenue realised is far too low from what I anticipated would gross up. The expenses are not what I expected. For instance, accommodation is too high for a charitable function. If this is a real reflection, then Fam failed to negotiate with other stakeholders in the course of the event.
“Just look at what is being channelled to the survivors as opposed to the expenses. It was just as good as to get the donated money from NBS Bank straight to the cause of the charity.’’
Out of the K54.6 million, K20 million was sponsorship from NBS Bank whereas Match Day tickets generated K29.7 million.
K4 million was realised from broadcasting rights.
This means Fam will channel K20.351 million from the NBS Bank Charity Shield— and K10.1 million from the revenue realised from the TotalEnergies Africa Cup of Nations qualifier match between Malawi and Egypt last month— to the cause.
According to the Fam statement, K15.9 million was spent on accommodation and teams’ participation fee whereas K13.5 million was for venue, security and general match organisation.
On Match Day, there was heavy presence of security personnel which included Police and Bouncers.
Another analyst George Kaudza-Masina said Fam should explain clearly on the expenses.
“As a match organised for a charity reason, the K13 million expense is not adding up and a proper breakdown of each could have sufficed. Otherwise it leaves a lot of unanswered questions as people might end up speculating otherwise,” Kaudza Masina said.
The statement indicates that K4.7 million was spent on the teams’ uniforms.
According to Fam, this year’s Charity Shield raised almost double the K10.3 million which was realised during the 2022 edition at Kamuzu Stadium.
“There were some incidents that were reported that led to revenue leakage. The Malawi Police apprehended 15 suspects who are currently being interrogated,’’ the Fam statement reads.
Bullets Chief Administration Officer Albert Chigoga said the club was satisfied with the revenue whereas Wanderers Chairperson of Commercialisation Clement Stambuli was yet to respond to a questionnaire as we went to press.
Bullets defended the Charity Shield after beating Wanderers 2-1 with goals from Maxwell Gasten Phodo and Stanley Biliati whereas Innocent Botomani scored the consolation goal for the Nomads.