Rinani Group acquires KL City FC

KUALA LUMPUR – Kuala Lumpur City FC is now under ownership after financial consulting firm Rinani Group Bhd has acquired the football club. 

Rinani director Azri Azerai welcomed KLFC into its family which currently consists of Malaysian Genomics Resource Centre Bhd, Bintai Kinden Corporation Bhd, Sarawak Consolidated Industries Bhd, and Reneuco Bhd. 

“We look forward to KL City FC continuing to be a trailblazer with the support of our fans. 

“An elite club, KL City FC will keep pushing boundaries and continue to be a professionally managed football club with ‘football decision’ being the core,” he said in a statement. 

Azri also thanked the Kuala Lumpur Football Association (KLFA) for all the work they have done for the club. 

“Our acquisition of KL City FC is part of the mandatory privatisation process that the Malaysian Football League is enforcing on all state-owned football clubs in the country. 

“The acquisition comes as football in the country transforms to a more professionally run sport that benefit all stakeholders,” he added. 

Meanwhile, KLFA president Khalid Abdul Samad also welcomed the news of Rinani taking a majority stake in the club and becoming a joint partner together with KLFA. 

“We hope the supporters of KL City FC will accept this change in ownership as private sector participation is vital to the future of Malaysian sports. 

“Private sector participation is vital because entrepreneurs know best how to push for success and ensure viability,” he said. 

The privatisation of KL City FC is also in line with the directives from FIFA and the Asian Football Confederation to have state-run football teams professionally ran, privately financed, and independently owned. – The Vibes, February 9, 2023