Nico look for sponsor as BCL cut ties
Correspondent | Wednesday July 13, 2016 15:18
Taolo told club members at Sunday’s annual general meeting (AGM) that Nico is facing major financial challenges and have lost players to rival teams.
“BCL says they won’t be sponsoring us until their economic status improves and they have given us the green light to look for a new sponsor. We are therefore doing all we can to solicit for a sponsor ahead of the new season,” said Taolo.
He said the team is wallowing in debt due to unpaid players’ salaries and arrears for the team’s apparel.
Taolo said with only 12 players left at the club, they are looking at recruiting a further 17. He said the signing of new players is expected to commence this week, highlighting that they have hired a new coach, Dean Mwiinde on a one-year contract.
“Our new coach is experienced and we are hopeful that he will significantly assist in improving the club’s performance that has been dropping every year for the past four seasons,” he said.
In addition, Taolo revealed that Majombolo took a decision to partner with Lekadiba Club in a bid to partly address the financial crisis and they have since drafted a memorandum of understanding that is yet to be signed.
“Lekadiba Club has proved to be a good partner as they once borrowed us P250,000 to cushion us from financial challenges,” said Taolo. He said they have not received any funds from the copper/nickel mine since August 2015 and implored supporters to come up with fundraising initiatives saying the club has only P200,000 as pre-season budget.
He however said BCL Mine is still providing them with transport services.
Meanwhile, the AGM got heated when supporters could not agree on the elections for a new executive committee.
Some slammed the committee saying it has failed the team and called for fresh elections while others said the committee should complete its mandate, saying that dissolving it will hinder progress.
After a lengthy argument, it was agreed that elections should be held next month, where a financial report would also be presented. The report could not be presented as it was said to be incomplete.