Singapore group completes King's Lynn takeover

King's Lynn Town were formed as a phoenix club in 2010

Singapore-based Turn Sports Investments have completed their takeover of National League North club King's Lynn Town.

TSI is owned by media entrepreneur Joseph Phua and have been investing in the Linnets since early 2024.

"The Blue and Gold Supporters' Trust has taken a minority shareholding to ensure the local community will be involved in the club's long-term direction," a club statement said.

"TSI has stepped in as a responsible custodian to stabilise the club in the short term.

"This new era is focused not only on securing the present but also on building a sustainable and community-rooted club that can thrive long after the investors complete their custodianship.

"TSI intends to relinquish its role once the right structures are in place."

King's Lynn are currently 15th in the table under head coach Ian Culverhouse, who returned last month for a third spell in charge.

King's Lynn were formerly owned by businessman Stephen Cleeve, who took over in 2016, but stepped down as chairman in May.

He admitted at the end of 2023 the club would be "in trouble" unless he could find funding to ensure they could complete the season and TSI came on board the following month.

Cleeve will have "no formal involvement" going forward and has written off his director's loan, the club statement added.

Chief executive Bal Srai said of Thursday's acquisition by TSI: "Today is a turning point for King's Lynn Town Football Club.

"TSI has stepped in to protect the club and give us the space we need to rebuild responsibly. Long-term sustainability will only be achieved if the community stands together with us.

"Our goal is clear. We aim to safeguard the club's future and create the conditions for long-term success.

"We are custodians rather than permanent owners and our responsibility is to ensure that when we pass the baton on, we do so to a club strengthened by community ownership, engagement and pride."

A fans' forum will take place on 4 December to allow supporters to question representatives of the new leadership team.