FAZ Unveils K33m Budget

THE Football Association of Zambia (FAZ) has proposed a K33,273,219 million budget for 2015.
And FAZ president Kalusha Bwalya is satisfied with the proceedings of Saturday’s annual general meeting at Mulungushi Rock of Authority in Kabwe.
FAZ treasurer Kelvin Mutafu, who presented the budget, said the association will spend K32,179,926 million thereby leaving a surplus of K1,093,293 million.
The association last year spent K27,677,590 million accruing a deficit of K1,045,679 million.
FAZ will spend K4,217,750 million on staff salaries while K90,000 will go towards audit fees.
“The association will continue sponsorship agreements with different entities both locally and internationally. The sponsorship agreements are for the various kinds of support in the enhancement of football at both grassroot level and professional level,” Mutafu said.
He said FAZ will receive kit worth K637,000 from the Nike sponsorship deal while the sports manufacturing firm will give FAZ K1,365,000.
Mutafu, however, said the projected amount from Nike might increase because the association is negotiating with the renowned sports kit manufacturer to renew the contract which expires this year.
The national soccer governing body expects K1,365,000 from Zambian Breweries Group who are co-sponsors of the national soccer team.
Mutafu said the association also expects K8,400,000 from MTN Zambia, who also sponsor the Super Division as well as the Chipolopolo.
The budget was unanimously adopted.
And Kalusha is happy with the way councillors conducted themselves during the meeting.
“I’m satisfied with the proceeding of the meeting. It was conducted in a mature manner befitting the AGM. All reports that were presented, including the financial statements, were adopted by our distinguished councillors,” Kalusha said.

Posted by Admin on March 30, 2015. Filed under SPORTS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.