Rollers announce P6 million earnings
Koketso Kgoboge | Monday June 29, 2015 14:42
Club chairman, Walter Kgabung told the annual general meeting (AGM) held in Palapye on Saturday that the club has managed to make P300 000 this season through merchandise which is a tremendous growth as compared to P31 000 last season. He said they spent around P3.7 million on players’ salaries this season. “The club’s deficit has gone down from P4.4 million in 2013/2014 season to P2.7 million this season,” he said.
The AGM was also updated that the club expects 30 percent from the sale of former star, Tsotso Ngele to Mamelodi Sundowns. Rollers expect to pocket R900 000 from the Ngele windfall.
The funds will be used to cover all the debts incurred by Township Holdings before 2013 while the remainder will stay in the coffers of the society. When giving the financial report on behalf of the absent Financial Manager, “It is worth noting that our earnings from membership has dropped from P138 000 in 2013/2014 to P68 000 this season. I encourage members to continue renewing their memberships and those who have not registered to register,” Kgabung said
During the meeting, there were mixed reactions as to whether elections should have been held to usher in a new executive committee or not. The elections however did not take place. The club’s secretary, Khumoyame Masonya assured the members that after approval of the new constitution, they will call another meeting where elections of the new committee will be the agenda.
“Of course with the old constitution every year in an AGM there should be elections of the new committee. However, because our constitution was too outdated and had amended it, we decided that we could not hold elections using the old constitution. After we endorse our new constitution and is approved by the Registrar of Societies, we will then call a meeting and elections will be held under the new constitution,” he said.
The AGM, however, was held without some members who had threatened to stop the meeting but Masonya said they had the matter under control.
“Of course there are some of us who took matters to court. Everyone is at liberty to approach the court whenever they want. We did seek legal advice and we went to court and we believe we stand a better chance to win the case.
They also know that hence they had threatened to stop the AGM. They wrote us a letter but only a court order could stop us and we were not served with that,” Masonya said.