JT Jaguars in Shs500m goldmine

JT Jaguars' sprint to the basket got a big cash injection. PHOTO/JOHN BATANUDDE 

What you need to know:

 JT Lady Jaguars sit third in the women’s top division with a 10-5 record while the men are currently fifth with a 9-7 record.

Kira-based basketball side JT Jaguars keep on making major leaps.

After two successful promotions since their inauguration in 2022 and debut in Division two, the National Basketball League (NBL) outfit has now secured Shs500m worth of sponsorship from Goldmine Finance.

The microfinance institution is willing to bankroll the club for five years translating into a potential Shs2.5b windfall.

“We think the team has great potential and their will to succeed at any cost motivated us to think of this (sponsorship),” Goldmine’s managing director Allan Tayebwa said at last Thursday evening’s press conference held at Golden Tulip Hotel to announce the deal.

Such was the weight of the sponsorship that Tayebwa, JT’s founder Japhet Nyangenya and his squad, were joined at the event by State Minister for Sports Peter Ogwang and National Council of Sports (NCS) chairman Ambrose Tashobya – who both praised Goldmine for taking the option to be associated with the sport.

On the same day, the NBL – had for contrast – also revealed a Shs500m sponsorship deal from Castle Lite and at that event, the federation’s chief executive officer (CEO) had highlighted the trouble that club owners go through to finance their clubs. That is why Goldmine's injection was timely.

“This is a young team and we are going to keep growing. As one of the top upcoming teams in the league, we plan to win as many league and regional games as possible. Plus any opportunities that might come our way,” Nyangenya said.

 JT Lady Jaguars sit third in the women’s top division with a 10-5 record while the men are currently fifth with a 9-7 record.