Singaporean businessman comes to the rescue of King’s Lynn Town as club finalises deal with Turn Sports Investments
King's Lynn Town Football Club's future has been secured after finalising a deal with Turn Sports Investments.
The deal between the two parties will result in fresh funds being pumped into the club for expansion, player development and acquisitions.
The announcement comes less than a month after club owner Stephen Cleeve announced that he needed £300,000 to see through the current season in the National League North.
In addition to fresh funds investment into the football club, the strategic partnership will form the foundation of the next phase of the club’s growth, focused on sustainable business development driving the club’s future footballing development.
TSI is anchored by Turn Capital, the single family office of Singaporean entrepreneur Joseph Phua, who has established himself within Asia’s technology media and entertainment arena through multiple successful acquisition and investment deals in the region.
Joseph Phua, chairman of Turn Sports Investments, said: “I am particularly impressed with Steve’s passion for and dedication to King's Lynn Town Football Club, 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.”
Stephen Cleeve, chairman of King’s Lynn Town Football Club, said: “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. T,
“Today is an important moment in the club’s journey towards the future. I am excited to share this with all.”
Turn Sports Investments (TSI) invests in sports-related projects globally and is anchored by Turn Capital.
Turn Capital acquires undervalued consumer and technology companies in Asia. Turn Capital works with founders to drive companies towards growth and profitability, creating long-term value for all stakeholders in the process.
It is the single-family office of Joseph Phua, more than £200m in AUM focused on consumer-related businesses.
