Nyasa Manufacturing Company (NMC) has officially taken over the ownership of Big Bullets FC following the signing of a memorandum of agreement (MoA) in Blantyre. The signing of the MoA was delayed by a group of former Bullets officials who insisted on a signed agreement. The MoA grants NMC full control of the club for the first five years, after which NMC will own 70% shares while the remaining 30% will be offered to any prospective investor. It also stipulates that NMC should invest in merchandise, start a stadium project, own club houses in Malawi’s three regions, and settle the club’s debt amounting to K184 million within three years.
Bullets CEO Fleetwood Haiya assured the Bullets family that NMC would fulfill everything that is in the MoA before the agreed three years. He added that they had secured land for the stadium project and will unveil it in the next few months. Moreover, the club has started constructing a club house in the South, and they have paid 80% of Bullets debts. The MoA also outlines that gate revenue at matches will be deposited into the team’s account before being disbursed to any stakeholder. Additionally, supporters will no longer receive 10% of the collection.
Former executive committee chairperson Noel Lipipa, who is the current marketing director, revealed that K100 million of its K480 million 2018 budget is set aside for the registration of supporters nationwide and investment in merchandise such as replica jerseys. He also dismissed speculation that the club would change its traditional colours of red and white, saying that “the club will retain its colours for life.”
Football Association of Malawi (FAM) marketing director Limbani Matola and Be Forward Wanderers general secretary Mike Butao witnessed the MoA signing and described the takeover process as the path every Super League club should follow.
