HIGHLANDERS will soon engage a general manager to run the day-to-day activities of the club, chairman of the board of directors Mgcini Nkolomi said at the annual general meeting on Sunday.
Nkolomi said either a general manager or chief executive officer would be hired, but they were presently hampered by the lack of funding for the club which is saddled by a debt of over $550 000.
“Guided mainly by the aims and objectives of its strategic workshop of November 2010, the board has maintained a steady acceleration on this chosen course. As early as March or April 2013, the board sought answers to questions as to: What has changed so far? What have we achieved so far? What did we fail to achieve and what is our implementation plan? These questions emerged from yet another strategic review of 2013 out of which the issue of engagement of a full-time general manager/chief executive officer came out loud and clear.
“Unfortunately, funding (or lack of it) has remained as the major limiting factor against the achievement of this goal. Certainly, it is acknowledged that the running of an institution of our nature cannot be left in the hands of part-time personnel as is currently the case both at board and executive level. Challenges have been encountered and will continue to be faced particularly in respect of timelines, but that is not to say that the chosen course should be abandoned,” Nkolomi said.
The board is the Highlanders policymaker and the chairman told the 199 Bosso members that the club would continue to engage potential partners to cater for the general manager.
“With a little more patience, it is my submission that our destination cannot be very far — as long as we remain focused. Consequently, efforts will continue to be made to engage strategic partners to bankroll the welfare of the general manager and office staff,” Nkolomi said.
This move by Highlanders would be in the right direction in line with Fifa club licensing regulations which require that football clubs be run by a board of directors and a general manager as part of the structure.
One of the few clubs that produces annual audited financial reports, Highlanders, continues to sag in financial difficulties owing to debts. This year they sealed a $700 000 sponsorship deal with principal sponsors BancABC, which its auditors Grant Thornton believe will help improve its working capital position.
“The football club’s statement financial position for 2013 revealed a situation where the current liabilities exceed the current assets by $562 410. This comes as a result of inadequate revenue being generated to cover operating expenses; this poses a threat to the going concern of the football club as it cannot meet its short-term liabilities.
“However, management anticipates that the revenue levels are going to significantly improve in the foreseeable future. Despite the continuing losses in the past three financial years, the entity has been progressively recording improving revenue systems,” the auditors said.