Ultimate magazine theme for WordPress.

Lioli release first club financial report

Teboho Molapo

 MASERU — Former Premier League champions Lioli have done it again!

Tse Nala have become Lesotho’s first club to release a financial report.

The Teyateyaneng giants have released their financial report for the 2009/10 season, something that no other club in the history of Lesotho football had ever done.

This comes after Lioli announced they would become the first club in the country to offer players contracts starting next season.

Lioli’s financial report, seen by the Sunday Express, reveals the huge challenges of running a football team in this country.

The game in this country is still played at an amateur level with little or no sponsorship and no television coverage at all.

As a result clubs have very limited sources of funding while players are not paid.

The clubs are run on shoe-string budgets mostly funded by individuals and well-wishers.

These challenges have however not deterred Lioli from trying to become the first professional club in the country.

Lioli’s executive, led by president Lebohang Thotanyana, has managed to extricate the club from the red to post an operating profit in the just-ended season.

Lioli have scored another first by becoming the first football club in the country to make a profit from a season after posting a surplus of M125 895.

In total, Tse Nala expended M348 985 last season.

Of the outlay, M85 163.24  was spent on transport alone, while meals and drinks gobbled M47 837.

Lioli received M60 000 for finishing second in the Vodacom Premier League last season.

The report shows income Lioli received from “various sources” was M474 880.

These sources include player transfers, the highest being Bushy Moletsane’s M5 000 fee for his loan move to Botswana’s Flamengo Santos last August, league and cup competition prize money and merchandising.

The other major sources mentioned in the report are Thotanyana Mining and Civil Works, Build It TY, Nthane Brothers and Econet Lesotho which Lioli say contributed more than M10 000.

“Many more sponsorships were received and appreciated,” Thotanyana says in the attached president’s report.

In total it means Lioli’s surplus for the 2009/10 season is M125 895, making Tse Nala the first local club to make money from a season.

The club’s income and expenses calculation excludes Lioli’s sponsorship agreements and aid which did not come in as cash.

This stable income source amounts to M594 000, a sum Tse Nala say has allowed them to survive.

Lioli enjoys a lucrative  partnership with Alliance Insurance.

Speaking to the Sunday Express, Thotanyana says the plan is to make Tse Nala a self-sufficient and accountable entity.

“We want to improve our accountability. We have introduced a finance committee and we might have independent audits in the near future,” he says.

“Lioli are heavily backed and we want our donors to see exactly where their money is going.”

Comments are closed.