KOTA BHARU – Entrepreneur and investment specialist Norizam Tukiman has taken over 100 per cent of the shares of Team The Red Warriors (TRW) Sdn Bhd, a subsidiary of the Kelantan Football Association (KAFA), effective today.
Norizam, 39, said he has spent RM6.8 million to own the company, which manages Kelantan FC in the ongoing Premier League, which is the second tier of competition in the Malaysia League (M-League).
“I bought RM3 million of the company’s shares and pumped in an additional RM3.8 million to settle existing debts… the total overall expenditure is RM6.8 million and anything more we will not bear it.
“I don’t see any profit today, but I see profitability in the long run… about three to five years’ time,” he told a press conference after the privatisation ceremony of TRW Kelantan FC here today.
At the event, KAFA president Datuk Shaari Mat Hussin witnessed the signing ceremony of the handover of ownership of the team TRW, which was represented by KAFA deputy president Datuk Seri Afandi Hamzah, to Norizam.
Norizam said his first task would be to get the club’s licensing issue sorted out by ensuring all previous debts and fines are settled, apart from making sure of training facilities.
“I also plan to get TRW Sdn Bhd listed on the Malaysian stock market to drive the Kelantan FC team and company forward,” he said, adding that his target was to get Kelantan back among the elites in the Super League next season and bring back the state football team’s glory days.
“At the very least, I want the Kelantan team to bag one point from each match as their key performance index (KPI) and it’s also not impossible for the team’s value to reach RM5 million to RM1 billion in the next five to 10 years… give me your support to manage team TRW Sdn Bhd,” he said.
Meanwhile, Afandi said KAFA no longer had a stake in Kelantan FC, which will be fully managed by team TRW Sdn Bhd, in which KAFA previously held a 20 per cent stake.
“We will manage the development programmes, the President’s Cup and youth teams and other matters not related to team Kelantan FC.
“With a new owner, we hope the Kelantan football team will shine again in the M-League,” he said.