FAM Signs K40 Million Pre-Contract with FISD

By: Chikondi Magalasi

Football Association of Malawi (FAM) has signed a pre-contract with Foundation for Irrigation and Sustainable Development (FISD) for a Challenge Cup.

The deal which is expected to run for five years will see FISD pumping Mk40 Million every year for that will be called FISD Challenge Cup.

Speaking at a press conference on Monday at Mpira Village in Blantyre, FAM President, Walter Nyamilandu, said the association was not expecting of securing such sponsorship.

“When one door closes, another one opens, I am very pleased and emotional because we didn’t expect to secure another sponsorship as early as this,” he said.

FISD Managing Director, Frank Mwenechanya, said that his company decided to sponsor the cup as a way of appreciating the best players the country has so far produced.

“Malawi has a potential of producing players but this cannot be done if there are no sponsors,” said Mwenechanya.

The Director further expressed that the funds for the cup they will be revised every year depending on economic situations.

“We will be revising the sponsorship every year depending on changes on the economy and adjustments will be made if necessary,” added Mwenechanya.

The development comes barely weeks after Standard Bank announced that it has stopped sponsoring Standard Bank Cup due to financial crisis that the bank is facing.

However, actual contract with FISD will be signed in 14 days during the launch of the Cup. At the launch is where details regard to calendar of events, format and prizes will be made.

In 2015 football season FISD sponsored Wizards FC formerly called Surestream FC owned by ex-Malawi nation football team captain, Peter Mponda.