derick.khumalo
Bongani Ndlovu, Zimpapers Sports Hub
Highlanders FC has admitted it is in a dire financial position, with the club’s leadership urging members to unite and confront the challenges threatening the institution’s stability.
In the chairman’s report presented by vice-chairman Sifiso Siziba, on behalf of chairman Kenneth Mhlophe, during the club’s Extraordinary General Meeting (EGM) at the Highlanders Clubhouse on Sunday, the executive acknowledged that the financial crisis had affected the team’s operations, including player strikes and inadequate preparations for matches.
“While the financial situation in figures will be spoken to by my colleague responsible for finance, Mr Khoza, it would be remiss of me not to set the tone by raising the issue. Our club is in a dire situation financially,” read part of the chairman’s report.
The report said the effects of the financial challenges had played out publicly through first-team player strikes and matches being played without adequate preparation, stressing that members needed to examine how the club had reached its current position.
It called on members to interrogate Highlanders’ business model and assist the leadership in identifying sustainable solutions to the financial difficulties.
“There certainly are identifiable reasons for our financial warnings. We need to receive these reports as honest flags,” the report said.
The leadership further disclosed that the club’s debt burden had reached levels where some creditors had obtained garnishee orders against Highlanders’ bank accounts, while accumulated debt over the years, rising player salaries and increased competition for talent had placed significant pressure on the club’s finances.
Despite the grim outlook, the chairman’s report appealed for unity among the Bosso family as the club seeks to navigate the crisis.
“There is no easy way to turn our club around. We can overcome when we come together in unity, much in the same way our forebearers overcame challenges to keep the club alive until today when it is a 100-year-old gigantic sporting and cultural monolith on the Zimbabwean sporting landscape.
“We are our own saviours. Let us rise to the challenge together,” read the report.
