King's Lynn Town football club secures investment
The owners had previously said they'd be 'in trouble' unless funding could be secured
King's Lynn football club's signing a partnership deal with a Singapore-based business, Turn Sports Investments, in an agreement that will result in fresh funds for the club, which will be used for expansion, player development and acquisitions.
It comes after the owner of the National League North Club warned last month that they'd be 'in trouble' unless funding could be secured.
Stephen Cleeve, Chairman of King’s Lynn Town Football Club, says he's thrilled with the move: "I am delighted to welcome TSI into the KLTFC family as a strategic partner and investor.
"I look forward to their innovative ideas and expertise to help us achieve our goals.
"KLTFC is in a phase of reinvention, based on long-term ambitions, and together with TSI, I hope we will be able to achieve our goals.
"We have come so far from day one, with support from our family of sponsors and loyal fans – I am proud to welcome TSI as part of our team. Today is an important moment in the Club’s journey towards the future. I am excited to share this with all.”
Joseph Phua, Chairman of Turn Sports Investments, said: “I am particularly impressed with Steve’s passion for and dedication to KLTFC, in particular his grit and tenacity throughout his tenure as club owner and chair – he is the key reason for TSI’s investment into KLTFC.
"In addition, KLTFC is a club with rich heritage and a strong fanbase. Through TSI’s network in Asia, we will be able to work with Steve and the Club to drive sustainable business growth which will in turn support KLTFC’s future footballing development.
"I believe a sustainable business is a pre-requisite for any club’s advancement and the nurturing of important talent.”