Kenyan giants Gor Mahia have a whopping Sh. 105.5 million in debt burden according to a summary of the club’s income and expenditures this season.
Even though the club has sponsorships and has also generated money within itself, its expenditures this season has surpassed the money that has come in. Their streams including sponsorship funds and the sale of club merchandise have raked in Sh. 111.8 million. Their expenditure, however, has totalled to Sh. 217.3 million with the cost of international travel alone eating up a third of that.
Playing in the CAF Confederation cup gave Gor a good number of away international matches with their expenditure on international travel amounting to Sh. 72 million. player salaries and those of the club’s officials totalled to Sh. 62 million.
The club however made a profit of Sh. 13 million from player transfers. According to club chairman Ambrose Rachier, counterfeit jerseys cost the team a chance of making more money from jersey sales. Only a paltry Sh.400, 000 have been collected from the sale of merchandise.
Adding to the Sh. 15 million they received from continental football governing body CAF, K’Ogalo made KSh. 7 million from gate collections from both continental and local matches. They were able to receive the 15 million thanks to a season in which they became the first ever Kenyan team to reach the CAF Confederation Cup quarter-finals.
The club is planning to change its constitution and according to club chairman, the new constitution will be ready by April 9th. 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 is adopted.
Rachier also highlighted the club’s long drawn plan of building its own stadium. “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,” he told Ramogi FM.
As the season’s ending beckons, Gor is also set to again agree on a partnership deal with Brookside. However, no contract has been signed with the milk processor. The club’s junior team is set to benefit the most from this deal as Rachier said that a huge chunk of the money got from Brookside will be directed that way.
Paperwork should be completed by the end of this week ad the club will announce their new sponsors within two weeks.