BUSINESSMAN Norizam Tukiman is now the new owner of Kelantan FC after buying over The Red Warriors (TRW) Sdn Bhd, a subsidiary of the state FA, for RM6.8 million.
TRW manages Kelantan, who play in the Premier League.
"I bought over the company's shares for RM3 million and pumped in an additional RM3.8 million to settle existing debts. I have spent RM6.8 million to own this club.
"I will not see profits immediately, but this investment will be profitable in three to five years," said the 39-year-old, an investment specialist, during the TRW-Kelantan privatisation ceremony in Kota Baru yesterday.
At the event, Kelantan FA (Kafa) president Datuk Shaari Mat Hussin witnessed the signing ceremony of the handover between Kafa deputy president Datuk Seri Afandi Hamzah and Norizam.
Norizam said his first task would be to get the club licensing issue sorted out by ensuring all previous debts and fines are settled.
"I also plan to get TRW listed on the Malaysian stock market to drive Kelantan and the company forward.
"I want Kelantan to earn a point from each remaining match this year. It will be the team's key performance index (KPI).
"It's also not impossible for the team's value to increase from RM5 million to RM1 billion in the next five to 10 years… give me your support to manage TRW," he added.
Meanwhile, Afandi said Kafa no longer have a stake in the team.
Previously, Kafa held a 20 per cent stake in TRW.
"We will manage the development programmes, the President's Cup and youth teams, and other matters not related to Kelantan.
"With a new owner, we hope the Kelantan football team will shine again in the M-League," he said. -- Bernama