The Football Association of Zambia (FAZ) says it has so far paid US$520,000 towards its debt to former Zambia National Team Head Coach, Aljosa Asanovic, and has successfully restructured the remaining balance, with repayments scheduled to run until 2028. FAZ General Secretary. Machacha Shepande, disclosed this in his report to the Executive Committee during a meeting held at Football House on Saturday.
He said that, given the magnitude of the financial burden, FAZ President Keith Mweemba made it a top priority to engage the FIFA President directly in a one-on-one meeting, followed by additional engagements involving his team in Miami, Florida, to seek a sustainable solution to the debt. Shepande added that FAZ held several meetings with its foreign-based lawyers and with Asanovic’s legal team as part of the restructuring process. “We requested a longer repayment period to allow the Association some financial relief and enable us to channel resources to other competing priorities,” Shepande told the Executive Committee.
He expressed regret over the situation, noting that FAZ was under serious financial strain at a time when Zambian football required significant investment. “It is regrettable that funds meant to improve the welfare of football in the country are being channelled to a cost centre that could have been avoided. It is painful that a dispute of US$20,000 ended up attracting a penalty of over one million dollars,” he said.
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“One wonders why in 2023 FAZ declined the proposed settlement at the time. Of course, this standoff forced Asanovic to escalate the matter to FIFA. The dispute then attracted FIFA intervention, which ended in a ruling in favour of Asanovic and a US$1,252,526.10 obligation on FAZ.
This has affected us badly,” he said. He further explained that under the new payment plan, FAZ will continue to receive its FIFA grants, but with agreed deductions to settle the Asanovic debt until 2028. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
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