Newly promoted Chadibe seek investors
Chakalisa Dube | Saturday June 8, 2024 06:00
Chadibe gained promotion to the elite league two weeks ago after emerging top of the First Division North League. Following the club’s promotion, there were reports that the management is contemplating selling the status of the club due to high costs of running a Premier League team. The club was quick to dismiss the speculations. “We are currently in talks with several potential investors, partners and sponsors who we want to bring on board to help us run the club. What I need to emphasise is that we are not selling the club, but we are open to selling shares and exploring other forms of sponsorship or partnerships to strengthen the financial position of the club,” club spokesperson, Leatile Morgan told MmegiSport yesterday.
“Talks are at a preliminary stage. If there is a notable development, we will communicate accordingly with all our key stakeholders, most notably our supporters, who have been key to our success over the years,” he added. Morgan stated that if the club does not secure sponsorship or partnerships, its survival will primarily depend on funding from the current shareholders and a grant from the Botswana Football League. Since its formation a few years ago, Chadibe has had its three shareholders, Emmanuel Thekiso, Omega Ngwerume and Senzo Nyathi, as the main funders.
Thekiso previously served on the executive committee of the defunct BMC FC during their days in the Premier League. “We anticipate that next season the league will have a solid sponsor, which comes in handy in terms of helping sustain the team. If we do not get a sponsor or investor, [we] will also try to be modest in our recruitment (of players) because we do not want to end up stretching our budget,” he said. Meanwhile, Morgan said the club has already started the process of fulfilling all the fundamental requirements of club licensing, which is a prerequisite for any team to participate in the Premier League. “We have been in touch with officials from the BFA who have been guiding us through the club licensing process. We are also mobilising resources so that we fulfil the requirements of the club. We remain overly optimistic that by the time the season starts, we will be fully compliant,” the official said.