IT MIGHT BE END OF AN ERA FOLLOWING: : BID TO SLASH 10% SPONSOR COMMISSION

MBABANE – Changes seem to be looming concerning the 10 per cent commission on sponsorships, as the PLE Board of Governors (BoGs) have called for a review.

Information that has reached this publication suggests that the Premier League of Eswatini (PLE) BoGs want the money which is an incentive for finding a sponsorship diverted towards sustaining the organisation. According to the PLE Constitution and principles, a resolution passed by the BoGs stipulates that an individual, who secures sponsorship is entitled to a 10 per cent commission of the total value.

Additionally, the employment contracts of the Chief Executive Officer (CEO) Kenneth Makhanya grants him a 10 per cent commission for every new sponsorship he gets each season. The organisation’s financial reports prepared by the FIPS Chartered Accountants for the previous season also reflect these commissions of the Executive Committee (ExCo) members and CEO.

For instance, the reports state that ExCo members were eligible for a 10 per cent commission on the sponsorship amount of E6.5 million provided to the league by MTN Eswatini. This totalled E650 000, according to the previous season’s financials.  Meanwhile, Makhanya was entitled to E200 000 from the MoMo Challenge Cup, which had a purse of E2 million. According to FIPS, the commissions amounted to E850 000 for the 2022/23 season.

Review

Fresh reports suggest that the BoGs are seeking a policy review. It is said the issue was raised during the PLE Extraordinary General Assembly (EGA) held at Sigwaca House in Mbabane, seven days ago. According to one of the 28 PLE BoGs, it was submitted last Thursday that the percentage should be reduced. “This issue was brought up during the meeting and the BoGs want it reviewed. They suggested that such funds could aid in the administration of the office, as PLE is currently facing financial challenges,” the BoG, who preferred to remain anonymous, said.

Meanwhile, the PLE CEO confirmed that the 10 per cent commission was a topic of discussion in last week’s meeting. “Your information that this matter was discussed during the general assembly is correct. There are several initiatives that are in progress, but at this point it would be premature to publish information on the initiative being undertaken,” the CEO said. The meeting was statutory under Article 49 of the PLE Statutes. As it leads up to the Annual General Meeting (AGM), it also takes resolutions for adoption at the next AGM. At a previous general assembly meeting, postponed in March, this item was on the agenda, along with travel cost allowances.

Discussions

It is worth noting, however, that the organisation’s Chairman, Mark Carmichael, informed members of the media after the meeting that the discussions were not final. Carmichael said that another meeting would be convened before the AGM to consolidate the day’s resolutions before they were presented for adoption at the AGM. The organisation is also preparing for an elective AGM at the end of the season.

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