Stephen Cleeve, Chairman of King’s Lynn Town Football Club (“KLTFC”), a National League North football club, has today announced a strategic investment and partnership deal that will see Turn Sports Investments (“TSI”) invest in the Club. The deal will result in fresh funds flow into the Club for purpose of expansion, player development and acquisitions.
In addition to fresh funds investment into KLTFC, 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 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 KLTFC, 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 family. Today is an important moment in the Club’s journey towards the future. I am excited to share this with all.”
About Turn Sports Investments
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.
Turn Capital is the single-family office of Joseph Phua, with over US$200m in AUM focused on consumer related businesses. Joseph launched Turn Capital in 2020, after he stepped down as full time CEO of 17LIVE, where he built the business from US$2 million annual revenue to a billion-dollar company with over US$400 million in annual revenues, and a market leader in Japan and Taiwan. Turn Capital typically acquires controlling stakes in its investments, which allows Joseph and his team of experienced operators / investors to take a hands-on approach for each investment.
In 2023, Turn Capital also launched Turn Capital Opportunities Fund (TCOF I), raising external capital for the first time, to scale its unique investment strategy.
About King’s Lynn Town Football Club
King’s Lynn Town Football Club is a National League North football club based in King’s Lynn, Norfolk, England. Nicknamed ‘The Linnets’, it plays at the Walks. Its roots can be traced back to at least 1881. The club has a thriving academy which has already produced its first Premier League player in Joe Taylor and has developed and sold players to the Championship, League 1 and 2, the National League and the National League North and South – all in just a few short years. The club was voted Community Club of the Year in 2023 and with its charity, Linnets in the Community, it has made a huge difference to the lives of local residents.
Since Stephen Cleeve’s arrival in 2016, the club has beaten Port Vale and Doncaster in the FA Cup as well as playing Portsmouth, Walsall and Stevenage in the same competition. The club has had two promotions in recent years and with a successful network of teams at all age groups, from Under 23’s to Under 6’s, the best is yet to come.
About the Transaction
The operation has been achieved thanks to the advisory servive provided by MergersCorp M&A International. MergersCorp M&A International is a leading firm that specializes in providing high-quality advisory services for mergers and acquisitions (M&A). With a global presence and a team of seasoned professionals, MergersCorp is committed to delivering exceptional results to its clients. The firm’s extensive expertise in M&A transactions enables them to guide clients through every step of the process, from initial analysis and valuation to negotiation and execution. MergersCorp understands that each M&A deal is unique and requires a tailored approach, which is why they adopt a client-centric mindset to ensure that the specific needs and goals of each client are met.
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