Gor Mahia Ltd Company or shares still bound to fail!

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T Opiyo
Second Half Substitute
Posts: 71
Joined: Sat Jan 02, 2021 2:11 pm

Gor Mahia Ltd Company or shares still bound to fail!

Post by T Opiyo »

Without accountability, transparency and proper management structures the much hyped idea of turning Gor Mahia into a limited Company and selling shares will be a total catastrophe.

It will just be another failed business model just like Uchumi Supermarkets, Mumias Sugar, Kenya Power and Kenya Airways all which are quoted in the Nairobi Securities Exchange. These companies continue to incur losses despite significant capital injection by the government.

Shareholders/ investors of limited companies only inject funds (buy shares) into a company when the shares are floated. Once officials currently in Gor Mahia squander these funds through their dubious and opaque dealings e.g bloated/ high wage bill (KES.5 m per month for underperforming players & TB) and exorbitant signing fees for dubious foreigners, where will they get finances for monthly working capital.
Will the club sell shares every time the players stage a go slow?

Solution is only in mobilization of membership, payable on a monthly basis to guarantee players and TB salaries. Next is to secure prize money in the competitions the club qualifies for especially the lucrative CAF tournaments. IT IS FINANCIAL SUICIDE NOT TO REACH THE CAF GROUP STAGES.

*Gor Mahia investor(s) / membership options that will guarantee the club monthly income.*

All the money from the investor(s) will only be used to pay/ guarantee the salaries for players & TB.
*Options.*
1) 1 investor paying KES.3m every month, total KES.36m per year.

2) 10 investors paying KES 300,000 every month, total KES.3m per month/ KES.36m per year.

3) 100 investors paying KES.30,000 every month, total KES.3m per month/ KES. 36m per year.

4) 1,000 investors paying KES.3,000 every month,
total KES.3m per month/ KES. 36m per year.

5) 10,000 investors paying KES.300 every month, total KES.3m per month/ KES. 36m per year.

6) 20,000 investors paying KES.150 every month, total KES.3m per month/ KES. 36m per year.

Options 4,5,6 means Gor Mahia still remains a "community club".
Gor Mahia fans must support the club financially but officials must be
1)transparent and accountable.
2)Key rights of members is voting rights,
3) AGM must be called every year, financial statements must be published on time.

Gor Mahia fans have an obligation to raise funds to sustain players and TB welfare BUT DON'T SWALLOW THE LIE THAT THE OFFICIALS ARE PAYING THE CURRENT CROP OF PLAYERS AND COACHES KES.5 M PER MONTH I.E ON AVERAGE ABOVE KES.100,000 PER PLAYER PER MONTH.
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