Sports / Soccer
Caps United loses on $850 000 deal
25 Mar 2015 at 11:13hrs | Views
A South African firm - Zing has cut ties with Caps United a month after entering into a $850 000 partnership.
Zing is a low cost instant messaging app that is available in several Africa countries and the firm was planning to set up base in the country.
At the centre of the dispute is $6 500 which Caps United chief executive area Joe Makuvire is said to have failed to account for during a Malawi trip with the team..
In a statement, Zing said: "Zing in the beginning of this year Entered into a relationship with Caps United Football club to sponsor and help restructure the management of the team in order to help spear head them towards a shared vision, this agreement was established in good faith with the hope that either parties expectations would be reduced into a signed contract soon after," H-Metro reported on Wednesday.
"For reasons best known to Caps United and Zing, both parties have agreed to suspend this working relationship for the time being.
"However, Zing's invested interest in soccer and sports in general remains firm since we believe in have developing talent and sports for both players and supporters alike".
Zing is a low cost instant messaging app that is available in several Africa countries and the firm was planning to set up base in the country.
At the centre of the dispute is $6 500 which Caps United chief executive area Joe Makuvire is said to have failed to account for during a Malawi trip with the team..
In a statement, Zing said: "Zing in the beginning of this year Entered into a relationship with Caps United Football club to sponsor and help restructure the management of the team in order to help spear head them towards a shared vision, this agreement was established in good faith with the hope that either parties expectations would be reduced into a signed contract soon after," H-Metro reported on Wednesday.
"For reasons best known to Caps United and Zing, both parties have agreed to suspend this working relationship for the time being.
"However, Zing's invested interest in soccer and sports in general remains firm since we believe in have developing talent and sports for both players and supporters alike".
Source - Byo24News
