Barely weeks after playing five TNM Super League games, Karonga United have disclosed that they are in a financial crisis.
Karonga Chairperson, Alufeyo Chipanga Banda, confirmed the development, saying the team needs K15 million to meet its first-round expenses.
In view of the financial problems, Banda said they organised a fundraising friendly on Sunday against Tanzania-based Boma Stars. The game grossed K565,000 at Karonga Stadium.
“But we are still asking well-wishers to assist us because we don’t have a sponsor. We need K15 million in the first-round to meet operation costs,” Banda said.
He said the team has K5 million in its bank account, an amount which is below the club’s budget.
Banda assured prospective sponsors that the team was ready to abide by any pre-conditions for financial support.
“With our current performance in the league, we are optimistic that we will survive relegation this season but our major setback is lack of sponsorship,” he said.
Karonga are on position 10 with five points from five games on the league’s log table.
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