Sofapaka FC has made headlines once again, but this time it’s about taking a crucial step toward resolving its lingering financial issues. The FKF Premier League club, known as Batoto ba Mungu, has committed to a Ksh2.2 million payment plan, a necessary move to settle debts owed to former players Paul Mungai Kiongera and Collins Wakhungu. This action is pivotal in maintaining the club’s future stability and keeping their Club Licensing certificate intact.
Sofapaka’s Financial Struggles
Like many football clubs, Sofapaka FC has had its fair share of financial hurdles. Over the years, their mounting debts have placed the club in precarious situations, threatening their eligibility to compete in the FKF Premier League. The debt owed to Kiongera and Wakhungu became a pressing issue when the Football Kenya Federation (FKF) warned that Sofapaka’s Club Licensing certificate was in jeopardy unless they cleared their dues by the end of September 2024.
The amount in question, Ksh2,215,251.15, needed to be paid in a structured installment plan, and failure to comply could result in the revocation of the club’s license. Despite being under immense pressure, Sofapaka took swift action to adhere to this agreement, signaling a serious commitment to overcoming their financial crisis.
The Payment Plan in Detail
Sofapaka’s repayment plan, agreed upon with KWEW Advocates LLP (representatives of Kiongera and Wakhungu), is structured over three installments. This approach allows the club to spread the payment over a few months, easing their financial burden while staying in compliance with FKF regulations.
- First Installment: The most significant payment of Ksh1.5 million was due on 30th September 2024. Reports suggest that Sofapaka managed to meet this deadline, allowing them to retain their Club Licensing certificate, albeit temporarily.
- Second Installment: The second payment, totaling Ksh363,778, is due on 30th November 2024. This sum includes part of the remaining balance plus an additional 12% interest. This payment will bring the club one step closer to fully resolving their debts.
- Final Installment: The third and final installment of Ksh368,426 must be made by 31st December 2024. Once this amount is cleared, Sofapaka will have fulfilled its financial obligations to Kiongera and Wakhungu.
This structured repayment plan is vital for Sofapaka as it helps them stay in good financial standing with FKF, which is essential to competing in the league. Clearing these debts will also ensure that the club avoids any further penalties or sanctions from the football federation.
FIFA’s Transfer Ban Lifted
In addition to their debts owed to Kiongera and Wakhungu, Sofapaka was previously slapped with a FIFA transfer ban due to unpaid dues to three former players – David Nshimirimana, Fiston Razak, and Moussa Omar. This ban severely hampered the club’s ability to bring in new talent, putting them at a disadvantage in the league.
Fortunately, Sofapaka was able to clear the debts owed to these players in mid-September, leading to the lifting of the transfer ban. This development is a huge relief for the club, allowing them to participate in future transfer windows and strengthen their squad.
The lifting of the FIFA transfer ban combined with their commitment to the Ksh2.2 million repayment plan is an indication that Sofapaka is serious about putting their financial troubles behind them. These actions not only help secure the club’s immediate future but also restore confidence among players, fans, and potential investors.
Sofapaka’s Path Forward
Looking ahead, Sofapaka must continue on the path of financial discipline. While clearing the Ksh2.2 million debt is a significant achievement, the club must also take measures to ensure that similar issues do not arise in the future. This includes better financial management, timely payment of players, and creating sustainable revenue streams that can support the club in the long term.
For Sofapaka’s loyal supporters, the hope is that the club’s off-field issues do not hinder their on-field performance. The 2024-2025 FKF Premier League season has already kicked off, and the team must focus on climbing up the league table. With the financial cloud starting to clear, Sofapaka has the opportunity to regain its former glory and compete for silverware once again.
