Be Forward Wanderers have announced that they are working on registering as a business entity.
This comes in the wake of observations from various stakeholders who have advised Wanderers to step up their commercialisation drive if they are to deal with their financial bottlenecks.
The Nomads will be following in the footsteps of fellow giants Nyasa Big Bullets and Silver Strikers who took the lead in operating as companies.
Wanderers General Secretary, Victor Maunde, said they expect to complete the registration process by end of the month.
“We are indeed in the process of registering the club so that we run it as a business entity. We have had consultations with relevant stakeholders on several occasions. Our target is to complete the exercise by end of this month. We know it cannot happen overnight but we are confident it will be done,” Maunde said.
For Wanderers to fully turn into a commercial entity, they need to establish a fully-fledged secretariat including recruiting a chief executive officer, an accountant and an administrative officer.
The Nomads might also have to dissolve their executive committee and replace it with a board of directors.
Both Silver and Bullets are enjoying sound sponsorship and are being managed professionally. The Central Bankers, who are bankrolled by Reserve Bank of Malawi, have fully-fledged offices in Lilongwe whereas Bullets, who are also sponsored by Nyasa Manufacturing Company, have a secretariat in Blantyre.
Local football analyst, Higger Mkandawire, hailed the Lali Lubani Road side for embracing an initiative which would improve its financial standing.
“Wanderers have taken the right path. Commercialisation is undoubtedly a good initiative. Clubs only need to ensure that they have a vibrant marketing team to ensure that they generate a lot of revenue. Clubs should look beyond selling replica items. They should do a proper market research on what their fans want most,” Mkandawire said.
The Nomads are going through tough times after their sponsor Be Forward Limited announced a 60 per cent sponsorship cut due to the Covid-19 pandemic.
In turn, Wanderers reduced their players’ salaries by the same percentage.