MASERU — Buddie Premier League outfit Matlama last week received a financial boost ahead of the next season.
Matlama will receive M85 000 as part of an arrangement with Alliance Insurance.
The “smart partnership” between the two began in 2006 and its fruits are finally being reaped.
“We worked with Matlama because they are a big name and they offer Alliance a substantial market,” Thabiso Madiba, manager of Alliance’s life insurance division, said at press conference last Friday.
Alliance has 1 000 life insurance policyholders.
Of the monthly contributions, M5 goes to Matlama to fulfil the agreement between the team and the insurance company.
“We are trying to develop sports in the country, we want football to grow,” Madiba said.
“We want to see football clubs being able to support themselves.”
The two partners had hoped the deal would see Matlama getting up to M100 000 a year, but the target has not been met.
Matlama had strife all last season and boardroom struggles led to the team finishing a distant fifth in the Premier League, outside a coveted top-four finish.
But Matlama said they were a stable club and they would not put any deal in jeopardy.
“Matlama is a stable club, there is always struggle when people are trying to implement change,” Matlama vice general secretary Moshe Tshehlo said.