New Premier League Club Faces Collapse
Harare, – Newly promoted Masvingo based club FC Victoria faces a serious financial crisis which could lead to its collapse in its maiden season.
The club is inviting buyers to purchase shares in the club.
Norbet Magwizi, the chairman of the club, which pipped former premiership side Masvingo United to promotion albeit under controversial circumstances said the club is selling 49 percent shares to anyone interested.
"We are facing a serious financial crisis which could lead to the club’s collapse. We have offering 49 percent shares to anyone interested," Magwizi said.
The club has been approached by Harare business mogul Philip Chiyangwa who intended buying shares in the club but turned down the offer as the flamboyant wanted to relocate the club to the capital city.
FC Victoria is still struggling to pay over USd 75 000 it owes players for its campaign in the Eastern Region’s Division One. A player exodus looms at the club as the executive do not have the funds to retain most of the players from last season and beefing up the squad.
FC Victoria got its ticket into the premiership amid allegations that it was buying referees to throw away matches. However Masvingo United made the allegations and lodged a complaint with ZIFA. The complaint was however thrown away.
Meanwhile FC VIctoria has appointed former Black Mambas player Saul Chaminuka as its new coach this season. The other team that has been promoted into the premiership is Douglas Warriors from Northern Region. The team won promotion after the eventual champion Simba Stars from Shamva had 20 points docked for match fixing.