KUALA LUMPUR – Kuala Lumpur City FC (KLFC) hopes that future investors will trust the club’s long-term process in ensuring its longevity in the local football scene.
The club is currently grappling with a financial crisis, leaving its players unpaid and their future hanging in the balance.
Speaking to Scoop, KL City’s chief executive officer, Stanley Bernard, said that the lack of trust from previous investors in the club’s long-term project was one of the reasons behind the crisis.
“Since I took on the role in 2021, I have worked tirelessly to generate interest from investors and partners to support the club.
“We established a long-term project spanning five years (2021-2026). In our first year, we won the Malaysia Cup, which naturally piqued investor interest. We also overachieved in last year’s AFC Cup, further reinforcing the perception that we would excel in all competitions we participated in.”
“However, as we moved into 2023 and our performance became less consistent in the tournaments, investors began to question their return on investment (ROI), despite being aware of our club’s long-term project. This led to a reduction in their investments, making it challenging to find funds to pay our existing players.
“We also had a few investors who joined but couldn’t sustain their commitment, realising that it was a one-way road and they might not recoup their ROI due to our limited fan base in the Malaysian League.
“Nonetheless, it’s crucial for them to consider the bigger picture. We have performed well over the past three years, taking the club from a bottom-dweller to a recognisable brand.
“As the CEO of this club, I would not let this issue continue happening, and I will try to find a solution to this matter in the days to come,” said Stanley.
Stanley also said that KL City is actively seeking solid partners who share their long-term goals in running and taking the club forward.
“I prioritise long-term achievements over short-term gains. Firstly, we need strong corporate backing, and I sincerely hope that government-linked companies (GLCs) operating in Kuala Lumpur can support our club.
“We are the only Malaysian football club that has achieved significant merit and success in recent years. We came out of nowhere to win the Malaysia Cup in 2021 and were runners-up in last year’s second-tier Asian competition.”
“I need corporate support as we have built a track record over the past three years. Let us work on KPIs with a long-term goal in mind.
“We are currently in discussions with two corporate partners, and we hope to achieve a fruitful outcome with them to propel the club forward,” Stanley added.
Recently, Stanley and KLFC’s president, Khalid Abdul Samad, took a separate loan worth RM300,000 to pay their players, who were overdue for more than two months.
The club had a severe financial blow after its equity Rinani Group Berhad reduced its sponsorship to 10% from 51%.
KL City currently stands seventh in the Malaysia Super League with 31 points. – November 8, 2023