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Kuala Lumpur, Feb 7: Rinani Group Berhad, a financial consulting firm based in the capital city has acquired Kuala Lumpur City FC (KL City FC) for an undisclosed amount.
The club has been rated as Asia’s second-best team in the Asian Football Confederation (AFC) Cup last year and are champions of the 100-year old Piala Malaysia in 2021 for the fourth time in the club’s history.
“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 as football in the country transforms to a more professionally run sport that benefits all stakeholders, ” Rinani director Azri Azerai said.
The privatisation of KL City FC is also in line with the directives from FIFA, football’s international governing body, and of the AFC, to have state-run football teams to be professionally run, privately financed and independently owned.
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