admin
Grace Chingoma Senior Sports Reporter
CAPS United say their drive to bring in new investors into the club is still on course despite domestic football being at a standstill because of the Covid-19 pandemic.
The exercise, which has a timeline of five years, will see the club’s two directors, Farai Jere and Nhamo Tutisani, shedding some of their shares.
This will mean the coming in of new investors who will join the shareholders in the ownership of the Green Machine.
“While the environment has changed drastically, due to a host of factors including the devastating and disruptive Covid-19, commercialisation of the club remains the only option for the institution given the nature of the body corporate that owns the football club, CAPS United,’’ club vice-president, Nhamo Tutisani, said.
“The owners of the club, being a private limited company, harbour, as one its primary corporate objective, a good return on investment, unlike other football clubs that are geared to register good industrial relations and/or community relations.
“We will pursue good return on emotions investment for our supporters, a health return on sponsorship investment for the sponsors as well as strive to be a good corporate citizen.
“This exercise should come into full effect within a period of five years, withstanding the disruptions of Covid-19 and other external factors obtaining in the operating business arena.’’
Tutisani said if packaged well, the brand should be able to attract good investors.
“It is the duty of CAPS United Football Club leadership, and management, to package the institution in a manner that will make it commercial attractive to all key stakeholders such as fans, supporters, players, sponsors and, more importantly, scouts for the Big Five league clubs,’’ he said.
“This explains why we are determined to make the right decisions to transform the club into an outfit that will resonate with a good destination for investments by some of the key stakeholders noted above.
“Going forward, we have settled for a capital structure that we believe is ideal for the transformation we are gunning for at CAPS United Football Club.
“We are well aware of the bumpy road ahead of us, but we are equally determined to formulate appropriate capital raising strategies that will yield requisite resources for the commercialisation project.’’
Amid uncertainty, as to whether the local football season will get unedrway this season, Tutisani said they were using the time off to reflect and plan forward.
“We will take full advantage of this period to continue planning, and reviewing our plans at the club, so that we stand ready for the eventual resumption of football,’’ the businessman said.
“Our attitude is that football will eventual resume, we therefore are going to assume an active role in refining our plans and preparations of the team, as you will witness in the upcoming days.
“Like other top flight clubs, the Green Machine have not been spared by the Covid-19 and are facing financial challenges. The situation remains dire because most of the revenue streams are dry following the lockdown necessitated by the ravaging Covid-19.’’
CAPS United, he said, will continue to try and honour their obligations.
“We are, indeed, struggling to meet our obligations, a situation we believe confronts many of our fellow clubs in the PSL and lower leagues in our industry as well those other businesses in various sectors of the economy.
“The issue of remuneration is contractual, therefore, provisions of the various contracts must be observed. However, there is room for amending the contracts with the consent of both parties, the club and its employees.’’
Online Reporter