Gor Mahia to turn into a company,  says Rachier

Gor Mahia is on the verge of embarking on a journey to become financially independent if delegates to the Annual General Meeting (AGM) slated for this Saturday adopt a proposal seeking to turn the club into a limited company, Chairman Ambrose Rachier says.

In an interview with Nation Sport, the long serving chairman said that the proposal was part of the agenda for the AGM whose venue is yet to be decided.

Consequently, the clamour for elections of club officials might have to take a back seat as the option of a company is fully explored, Rachier explained.

“We are proposing to invite investors who would have a 51 per cent stake in the club. The other 49 per cent would be for community representatives because we do not want the club to lose its community identity,” he said.

Gor Mahia have seen potential officials coming on board drawing up various methods of raising money aimed at making the club achieve financial sustainability. One of the oft repeated model is to float shares at the Nairobi Stock Exchange (NSE).

Despite its appeal, this approach is fraught with difficulties owing to the fact that the club is registered under the Sports Act and not a company and hence cannot trade at the NSE.

Rachier is optimistic that the delegates will see the sense of what he is proposing and give it a resounding aye at the meeting.