Will fans save Gor Mahia from bankruptcy?
Kenyan Premier League champions Gor Mahia will roll out a strategic plan aimed at making the club financially self-reliant.
Club chairman Ambrose Rachier on Wednesday held a closed-door meeting with officials and advisors which resolved that the team will cash in on its huge following to generate revenue from within rather than relying only on sponsors.
Gor Mahia are currently without a sponsor and have been struggling to pay players. Recently, Kenya Revenue Authority demanded Sh118 million in unremitted income tax.
“While a sponsor would be an immediate solution to our current problem, we have been advised to find ways of making the club self-sufficient so that we don’t find ourselves in this mess again in future. It is time we found other financial sources instead of relying totally on a sponsor,” he said.
The reigning league champions have been left bankrupt after their sponsorship deal with Brookside under their flagship product Tuzo expired in March.
Financial plan
And Gor is finalising a plan that will see the club recruit one million club member who will each contribute a membership fee of Sh100. This will help raise Sh100 million which is expected to meet the club’s Sh72 million annual budget even in the absence of an external donor.
“We now want to deal with members, not just fans,” Rachier said. “If we make this a reality then we will be even better off without a sponsor. Most sponsors have been giving us between Sh20-30 million, but we intend to raise Sh100 million to enable the club sustain itself for more than a year.”
Despite the challenges, K’Ogalo have posted straight wins in their last four matches. They travel to Sony Sugar on Sunday.