Silver Strikers registered K58.8 million surplus last year, having spent a total of K474 million out of the total income of K533 million.
This was disclosed during the club’s annual general meeting (AGM) held in Lilongwe on Saturday.
Silver Chief Executive Officer Thokozani Chimbali attributed the development to several reasons.
“There were no games in 2020 due to Covid; so, we saved a lot of money. We also showed that we were prudent in management of the funds,” he said.
Out of the K533 million, K500 was sponsorship from the Reserve Bank of Malawi (RBM), K14.7 million was from the players’ transfers, K11.5 million from other income, K3.9 million from prize money and K2.7 million from gate collections.
Meanwhile, Silver unveiled ambitious plans aimed at maximising revenue and also turning the club into a global brand.
Silver plan to establish a football academy, women’s football team and also participate in the Caf Champions League every year.
In his report, Silver Director, Mayamiko Mwinjiro, who is responsible for commercialisation, said the club was moving in the right direction.
“Silver is a big brand and it is our dream to turn it into a global brand. It is our aim to make sure that we produce good players to export them to top leagues,” he said.
Mwinjiro said Silver were expected to launch their own sportswear called ‘Silver wear’ which includes one home kit and three away kits for the team.
The first consignment, which already arrived in the country, comprises one home kit and 1,000 replica kits.
RBM Executive Director, Corporate Affairs, William Matambo urged the team to win the TNM Super League championship this season.
“We have taken a bold step towards the commercialisation drive. We intend to make Silver an independent company so that it can stand on its own and be run in a professional way,” Matambo said.
Silver, who last won the league championship in 2013, participated in the 2018 Confederations Cup but were eliminated in the preliminary round after a 4-3 post-match loss to ASC of Gabon.