E1M FOR ‘BULL’ DIRECTORSHIP

MBABANE – Amid ongoing internal strife at Mbabane Highlanders, reports have emerged of efforts to attract individuals capable of bolstering the financial stability of the club. This initiative reportedly involves strategically approaching businessmen who could invest in the club and subsequently join its directorship. Highlanders have been embroiled in a power struggle for over two months, currently led by South African businessman Chief Ally Kgomongwe, who holds 80 per cent of the team’s shares, while patrons and fans each hold 10 per cent. However, tensions that surfaced two months ago have resulted in a split in leadership. On December 18, 2024, the patrons appointed an interim committee to manage the club. This decision followed the managing director’s difficulties in entering the country to address pressing issues, while Kgomongwe has also called upon the patrons to meet him in Pretoria, South Africa, to discuss matters concerning the club. According to a reliable source within the ‘Bull’s kraal’, efforts have been made to entice individuals to invest in the club during this period of tension and uncertainty, where the patrons have been managing the club with limited involvement from the South African owner.

approached

The source revealed that some businessmen have allegedly been approached by the interim committee to persuade them to assist during this challenging time. “One businessman was requested to invest E1 million into the team’s account and could potentially be added to the company’s directorship. However, the businessman was hesitant even when the negotiated amount was decreased to E500 000,” the source disclosed. It was noted that the primary stumbling block was the potential return on investment for such a substantial sum in football. The source lamented that football in the country primarily represents a gamble with potential losses for businessmen, which understandably makes them reluctant to invest.

Historically, depending on the club’s current wage bill, E1 million would have lasted Kgomongwe approximately three months in paying salaries for players, technical staff and support personnel. The monthly wage bill was estimated to be around E300 000, with city rivals Swallows’ salary bill currently at E271 100. Additionally, the team incur operational costs that further deplete the club’s finances. Last week, this publication revealed that a former prime minister (PM) was among a list of prospective directors for the black-and-white outfit. Highlanders’ Patrons Chairman Thembinkosi Mamba’s phone repeatedly rang unanswered when sought for comment, and he had not responded by 5:44pm. Meanwhile, Chief Ally expressed that he welcomes individuals who could assist with such financial contributions, but doubted whether anyone would have the courage to invest E1 million in football. He stated that once such investments are secured, they would need to come to Pretoria, which he referred to as the ‘Bull’ headquarters, for him to authorise that investment in his company.

acquired

In a related incident, it is worth mentioning that Manchester United, under the ownership of the Glazer family, acquired the club in 2005. This move was met with significant opposition from many fans, as the Glazers leveraged heavily to finance the acquisition, burdening the club with substantial debt. To alleviate this debt and fund future investments in players and infrastructure, the Glazers explored various options, including potential minority investments from outside parties.

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