Kenya Football Premier League Champions, Gor Mahia, has launched a financial appeal after persistent financial troubles in the club.
In a Press Release dated 25 June 2021, the club Chairman, Ambrose Rachier, appealed for financial help from the public. Rachier stated that the club’s financial future was facing a desperate future amidst the COVID-19 pandemic.
A hybrid system
“Having regard to the ongoing financial challenges the club is facing and which have been compounded by the COVID-19 pandemic… the Executive Committee, having studied various financial models adopted by the successful football clubs globally, have resolved to adopt a hybrid of some of these benchmarks and to roll out a fundraising scheme that would ensure the financial sustainability of the club in the future,” the press release said.
The club said that they had developed several ways to that they wanted to raise funds that would drive the club forward. The first source of funds for the club would be the club members, supporters and well-wishers.
Pay Bill Number
The second mode of appeal, however, is what has caused a public commotion. The club had come up with a Safaricom Pay Bill Number, which they would be used to collect funds for the club.
“We encourage members, supporters, and well-wisher to make regular monthly contributions of such sums as they see fit,” The club said, to the uproar of the public.
Additionally, the club said they would also launch a ‘vehicle’ into which club members could invest, stake in, and get returns. However, the club did not reveal when they would form the vehicle and how it would come about.
— ⚽️GOR MAHIA FC (@OfficialGMFC) June 28, 2021
Chronic financial problems
Gor Mahia is one of Kenya’s oldest clubs and is the most successful club locally. However, the club has failed to bank on its glory to make money. Indeed, Gor Mahia, and rivals AFC Leopards, are often in chronic financial problems almost every season.
The club had found some stability under the sponsorship of Sportpesa. However, it quickly fell back into old ways once the Betting firm exited Kenya in 2019.