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TNM cancels Big Bullet’s debt

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AFTER failing to defend the Carlsberg Cup, Big Bullets got at least a consolation yesterday when TNM announced that it had written off the K10.3 million debt that the club owed the Super League sponsor.

TNM gave Bullets a K15 million advance payment to help finance the Super League champions’ Caf Champions League campaign.

The understanding was that the team would pay back the debt from an SMS promotion the team launched with a view to raise funds. However, the campaign flopped and only raised K4, 693,800 leaving Bullets with a deficit of K10, 306,200.

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TNM chief commercial officer, Dan Makata, said yesterday said the mobile company decided to relieve Bullets of the debt as a demonstration of the company’s commitment towards football development in the country.

“As a proud and patriotic Malawian service provider, we are proud to write off the debt that Big Bullets owe us as a company. This demonstrates our commitment in supporting the development of football in the country and it is our hope that the debt relief will help Big Bullets FC focus on other critical operational issues for the team,” Makata explained.

Makata said TNM was still proud that Big Bullets represented the country well in the continental tournament. “We were very moved by Big Bullets’ courage to participate in the competition albeit without stable sponsorship.

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As a company, we are happy that despite the bottlenecks the team faces due to lack of sponsorship, they had the heart to compete at a bigger stage and they represented us well, reaching the second round of the tournament. That is no mean achievement,” he said.

Bullets chairperson, Sam Chilunga, said the debt cancellation was a huge relief to the club’s executive committee.

Chlilunga said the club inherited a debt of about K25 million and the TNM debt cancellation had relieved much of the burden.

“The debt cancellation, coming after what happened last weekend when we lost to Mighty Wanderers in the Carlsberg Cup final, is a huge consolation to us,” Chilunga said.

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