Speaking to Citizen Sport, Gor Mahia Chairman Ambrose Rachier gave a detailed report of the club’s finances which suggests that the club is deep in debt
Additional reporting from Citizen Sport
Kenyan Premier League (KPL) giants Gor Mahia FC are shouldering a Sh. 105.5 million in debt burden according a summary of the club’s income and expenditures this season.
Gor’s revenue streams – including sponsorship funds and the sale of club merchandise have raked in Sh. 111.8 million but the KPL champions a massive 217.3 million with the cost of international travel alone eating up a third of that.
International transportation cost Gor Sh.72 million with player salaries and those of the club’s officials amounting to Sh. 62 million.
In a rundown provided by Gor’s chairman Ambrose Rachier, it shows the club also made Sh. 13 million in profit from player transfers while counterfeits meant only a paltry Sh.400, 000 have been collected from the sale of merchandise.
Gate collections from local and continental matches amount for KSh. 7 million while they were also paid a total Sh15 million by continental governing body CAF thanks to a season in which they became the first ever Kenyan team to reach the CAF Confederation Cup quarter-finals.
Rachier stated his desire to trim what he termed a ‘bloated office’ at the club but emphasized such powers can only be available to him once the new constitution – which he said would be ready by May 9 – is adopted.
He also gave an update on the club’s long-drawn-out plan to build its own stadium, suggesting conflicts in location and unresolved land conflict as their biggest setback.
“The Embakasi land has been grabbed and the title deed got lost during Erastus Okuls’s era as the chairman. I’m following up on the Kasarani’s 10-acre piece of land but the problem is the title deed can only be registered in my name.
“The Constitution hasn’t given me the powers to make certain decisions that can make Gor Mahia a business entity,” Rachier told Ramogi FM.
Rachier also announced Gor will start awarding professional contracts to its youth team players in what could make the first KPL club to do so.
A partnership deal with Brookside, which he said will be announced next week, could prove a turning point for the club’s junior team with the extra funds set to be diverted their way.
Gor already agreed a deal with the milk processing company but no contracts have been signed yet and Rachier expects the paperwork to be complete by the end of this week.
The official meanwhile also reiterated his resolve to crack the whip on ‘rogue’ players at the club when the KPL season comes to a close.
Rachier vowed to punish indisciplined players following the extraordinary timeline of events that led to Gor’s exit from the CAF Confederation Cup.
Photos of Gor players lying helplessly on the floor at the airport lounge in Doha, Qatar sparked online outrage and prompted Rachier into calling a press briefing to clear the air over the issue.
He turned the heat on the players and specifically called out Francis Kahata and Philemon Otieno for “conjuring up malicious pictures to evoke sympathy and fake suffering.”