Times Of Swaziland: AMID CRISIS:  BOLD RESTRUCTURING

AMID CRISIS:  BOLD RESTRUCTURING
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Machawe Fakudze and Nimrod Hlophe on 11/01/2025 09:32:00


MBABANE - The winds of change are upon us.
This is the story of Mbabane Swallows, the giants of the capital city, as they
announced a restructuring plan last night, which includes the establishment of
an advisory committee. In a surprising revelation, this committee has been
formed to assist the club in tackling its urgent challenges and to offer
impartial guidance during this crucial period.
This decision comes in the wake of allegations that players have not been paid
for the past three months, with their last payment in September only covering
half of their salaries.In a statement released by the club, the newly formed
advisory committee, comprising Masotja Vilakati, Muzi Siyaya and Thabo Magagula,
will aid Swallows in addressing its immediate issues. The statement affirmed the
committee’s commitment to providing impartial guidance during this critical
time.
Vilakati, who currently serves as the Chief Executive Officer (CEO) of the
Public Service Pensions Fund (PSPF) is no stranger to the club, as he previously
held the position of chairperson of ‘Birds’ until his resignation on January
5, 2024. Meanwhile, Siyaya is the Managing Director (MD) of Ubombo Sugar
Limited, while Thabo Magagula is the Executive Director at Umelusi Capital.
“These individuals were evaluated to ensure there are no conflicts of interest
and are well-equipped to provide objective advice during this crisis.
Importantly, they have no aspirations to occupy any leadership roles within the
football club,” the statement read. The statement further clarified that,
following a review of the club’s constitution and the records held by the
Premier League of Eswatini (PLE), ownership of the club has reverted to the
supporters, in line with the provisions of the club’s constitution.
“This change comes after the five-year term granted to Bishop Lukhele to
manage the team expired, following the untimely passing of Victor Gamedze. The
advisory committee, having consulted the constitution and sought legal advice,
confirms that ownership of Mbabane Swallows Football Club is distinct from that
of Mbabane Swallows Proprietary Limited,” the statement continued.
The statement further emphasised adherence to the current constitution of
Mbabane Swallows Football Club, asserting that the former president of the club,
Archbishop Lukhele, will comply with the provisions outlined in the club’s
constitution. This move by Umkhonto KaShaka is significant within the football
world as it highlights the importance of transparency and adherence to
established rules. This structure is expected will run the team until the end of
the current season.
Worth noting is that late last year, there has been tension within the
‘Birds’ nest involving the Mbabane Swallows Football Club and Mbabane
Swallows PTY (LTD). The latter wanted to take over the team, but succumbed to a
E2 million current debt of the city giants. The parties on December 2, 2024,
agreed that Mbabane Swallows Football Club will run the team until further
notice.
In recent years, numerous clubs have encountered financial difficulties,
prompting various measures to address these issues. For example, the Italian
football club Juventus underwent a similar restructuring in 2011, selling its
training ground to a third-party investor to alleviate its financial burdens.
This sale enabled Juventus to maintain its status as a leading team in Italian
football, a position it continues to hold today.
(More reports in tomorrow’s publication)