LILONGWE-(MaraviPost) – The Malawian registered Rach Family Trust that signed lucrative five-year sponsorship deal of MK600 million with the Malawi Queens has failed to fulfill its commitment. It’s now a paper work as the latter is failing to meet its contractual obligation.
It has been established that out of the initial MK120 million which was supposed to be paid in the first year of the MK600 million five-year deal, the team has only been given MK15 million in the last eight months.
The suspicions arose following revelations that the main man behind the Rach Family Trust, Ravi Rach, are currently battling bankruptcy charges in the UK and USA courts.
In an exclusive investigation, local radio Zodiak discovered that the Trust has only given NAM K15 million for its administrative costs. The report revealed that the sponsor failed to meet its obligation to provide the Malawi Queens resources.
The study further illustrated that Rach family Trust was given the budget for the Uganda trip in March which was two months before the tournament.
Despite the contract agreement which holds the Rach Family Trust responsible in the provision of allowances, accommodation and transportation for the Queens when they travel on national duty.
The development has prompted sports commentators and analysts to raise questions as to the main motive of the sponsorship.
On condition of anonymity Ministry of Sports official admitted to have not run a background check on the Rach Family Trust before it signed sponsorship agreement.
The ministry official declined to give much detail on the matter indicating that the issue was at ministerial level. It would therefore be unappropriated to have a comment on the issue before proper investigations.
“But we are now going to make a review of the agreement. We will do our own research on the allegations and find a way forward,” assured the official.
Rach however confirmed about his cases but wondered how that is connected to the netball sponsorship.
Rach further disputed the fact that only MK15 million has been provided so far. The Trust has remitted K25 million to the netball team.
“Ravi Rach is not sponsoring personally. We have a family trust which has trustees, who are wealthy individuals. The Trust has a lot of money; the bankruptcy has nothing to do with sponsorship. We are sorting everything out right now.
“We haven’t released any money due to NAM approaching us last minute. We are currently verifying on whether the team has used the money stated. We are going to refund them, every tambala,” assured Rach.
The Netball Association of Malawi (NAM) signed the netball sponsorship agreement with the Rach Family Trust, which was represented by Mr Rach early this year.
During the signing ceremony the Rach Family Trust donated MK5 million NAM for its administrative purposes.
The sponsorship entails that over a period of five years the sponsor would provide MK600 million for NAM’s administrative expenses and national netball team expenses.