adminSikhumbuzo Moyo Senior Sports Reporter
DEBT-RIDDEN Highlanders Football Club will not take the route to dissolve the club as Zifa did last Saturday as a way of dealing with their mounting debt. The Bulawayo giants are reeling under a debt of over $600,000 and some of their members had suggested that the club go the Zifa way by proposing to members that the club be dissolved and hand over its assets to a trustee for purposes of sequestration (the action of taking legal possession of assets until a debt has been paid or other claims have been met).
The trustee’s role will be to compile an inventory of the club’s assets and call upon interested parties, which includes creditors, for purposes of distributing the residue assets amongst them.
The sequestration process will be akin to the burial of Highlanders as an artificial entity that died by the process of dissolution. Bosso’s assets include Hotel California (Luveve house), club office and its furniture as well as the three buses. The club house is on a 99-year lease.
However, club chief executive officer Ndumiso Gumede said the club will never take that route under whatever conditions. “No, no, no! We will not do that (dissolve). Highlanders is not just a team, it’s more than that. Asiyindawo, we will never change our name to run away from our debt,” said Gumede.
Meanwhile, a committee tasked with coming up with a model for a new look Highlanders has finished its work and will present their work to the club members during the mid-year review meeting, Gumede said.
The model is in line with the Fifa Club licensing programme.
“If our members are happy about it, Highlanders will never be the same again but I must stress that it’s a process it’s not going to be an event,” said Gumede.
Online Reporter