ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Mar 02, 2023 17:00 JST
Source:
Rinani Group Bhd
Rinani Signs Share Sale Agreement for KLCFC
Company acquires majority stake in football club from KLFA
PETALING JAYA, Malaysia, Mar 02, 2023 - (ACN Newswire) - Rinani Group Berhad, a financial consulting firm, is pleased to announce that the Company has signed a share sale agreement (SSA) with the Kuala Lumpur Football Association (KLFA) to acquire a majority stake in Kuala Lumpur City FC Sdn Bhd (KLFC), the owner of the KL City FC (KLCFC) football club.
KLFA president Khalid Abdul Samad; Political Secretary to the Prime Minister, Azman Bin Abidin; Stanley Bernard, Managing Director of KLCFC; Datuk Seri Noor Azerai Ahmad; Rinani director Azri Azerai[L-R]
KLFA president Khalid Abdul Samad; Political Secretary to the Prime Minister, Azman Bin Abidin; Stanley Bernard, Managing Director of KLCFC; Datuk Seri Noor Azerai Ahmad; Rinani director Azri Azerai[L-R]
Rinani director Azri Azerai said, "The SSA officially makes Rinani the majority owner of KLFC. We pledge to bring KLCFC's performance on the pitch to a higher level by concentrating on coaching, player recruitment and youth development and we promise our fans better engagement and experience for their money's worth. Besides the game, we will also focus on enhancing the revenue stream for KLFC for it to be sustainable and continue maintaining the club."
"We would like to thank the KLFA for all that they have done over the years for the club and we will build on this to bring KLCFC to the next level. We will work towards having more corporate tie-ups and sponsorships for the club to be financially sustainable as well as ensure training levels that can bring the club to the international stage. We also would like to thank the Prime Minister, YAB Datuk Seri Anwar Ibrahim, for his support for our venture and for encouraging the growth of Malaysian football."
KLFA president Khalid Abdul Samad said, "This is a historic day for KLCFC with majority ownership of KLFC passing over to Rinani. The privatisation of the club is in the best interests of all that involved in the sports of football, including the players, supporters, sponsors and vendors that have been closely associated with the club over the years. Best wishes to not only KLCFC and Rinani Group, but also KLFA."
Political Secretary to the Prime Minister, Azman Bin Abidin said, "The privatisation of state-run football teams is vital for the further development of the game as this will ensure that clubs have access to the expertise and knowledge that the private sector can provide. It is also vital that the private sector run the football clubs professionally with good governance as this will assist in ensuring financial viability for youth development and player recruitment."
Stuart Ramalingam, CEO of Malaysian Football League said, "The continued privatisation of football clubs in the country will benefit all stakeholders, especially the players as their welfare will be better taken care of. There will be more transparency in how the clubs are run and finances managed. Professional management of the clubs is important as this will mean the need to engage with supporters, improve performance and offer a better product."
Rinani's acquisition of a majority stake in KLFC is also in line with the directives from FIFA, football's international governing body, and of the Asian Football Confederation, to have state-run football teams be professionally run, privately financed and independently owned.
Rinani Group Bhd:
http://rinani.com.my/
Kuala Lumpur City FC:
https://kualalumpurfootball.com/
Source: Rinani Group Bhd
Sectors: Daily News, Local Biz, Sports
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Hitachi Collaborates with NVIDIA to Accelerate Digital Transformation with Generative AI
Mar 19, 2024 19:11 JST
Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition
Mar 19, 2024 16:40 JST
Mazda: Permanent Pride of Hiroshima Exhibition Opens April 27
Mar 19, 2024 16:02 JST
TMF Collaborates with the Okinawa Prefectural Police Headquarters to Develop Accident Prevention Approaches Integrating Police Accident Data with Vehicle Data
Mar 19, 2024 12:49 JST
Hitachi Vantara Announces Collaboration with NVIDIA to Create New Portfolio of Industrial AI Solutions
Mar 19, 2024 12:35 JST
Fujitsu Limited announces recruitment plans
Mar 19, 2024 10:34 JST
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
Mar 18, 2024 17:29 JST
Fujitsu and AWS will launch a new Modernization Acceleration Joint Initiative to enable customers across industries to drive digital transformation with fast and secure legacy modernization
Mar 18, 2024 16:12 JST
Nissan and Honda to start feasibility study of strategic partnership
Mar 18, 2024 12:14 JST
Mitsubishi Power Achieves #1 Global Gas Turbine Market Share in 2023
Mar 15, 2024 18:34 JST
Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving
Mar 15, 2024 12:36 JST
Hitachi High-Tech Launches High-sensitivity and High-throughput Wafer Surface Inspection System LS9300AD for Wafer Manufacturers
Mar 15, 2024 11:21 JST
Japanese joint research group win Prime Minister's Award with ultra high-performance computing platform using jointly developed 64-qubit quantum computer
Mar 15, 2024 10:19 JST
MHI Establishes GX Solutions Business Domain to Promote Energy Transition Business Growth Strategy
Mar 14, 2024 13:30 JST
Fujitsu and Tokai National Higher Education and Research System collaborate on AI-based space weather research
Mar 14, 2024 10:21 JST
Mitsubishi Corporation, Mitsubishi Fuso Truck and Bus, and Mitsubishi Motors will jointly establish a new company to run an online platform providing comprehensive EV related services
Mar 13, 2024 18:06 JST
MHI Selected as Licensor of CO2 Capture Technology for Leading Low Carbon Hydrogen Production Project in Cheshire, UK
Mar 13, 2024 11:30 JST
GMO Research Activity Support & Technology launches brain MRI analysis tool developed on world class supercomputer Fugaku with Fujitsu Computing as a Service (CaaS)
Mar 12, 2024 10:20 JST
TANAKA Establishes Bonding Technology for High-Density Semiconductor Mounting Using AuRoFUSE(TM) Preforms
Mar 12, 2024 03:00 JST
Hitachi Forges a Three Year Strategic Alliance with AWS to Advance Hybrid Cloud Solutions
Mar 11, 2024 16:44 JST
More Latest Release >>
Related Release
Rinani Acquires KL City FC
February 07 2023 20:30 JST
More Press release >>