Turn Sports Investments, based in Singapore, has finalized its acquisition of National League North club King’s Lynn Town.
TSI, led by media entrepreneur Joseph Phua, has been involved with the Linnets since early 2024.
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According to a club statement, “The Blue and Gold Supporters’ Trust has acquired a minority stake to ensure local community involvement in the club’s future direction.”
“TSI has arrived as a responsible steward to stabilize the club in the short term,” the statement continued.
“This new chapter is aimed not only at securing the club’s immediate future but also at establishing a sustainable and community-oriented organization that can flourish long after TSI has completed its stewardship.
“TSI plans to step back once the appropriate structures are in place.”
Currently, King’s Lynn Town sits in 15th place in the table under head coach Ian Culverhouse, who came back for a third spell last month.
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Previously, the club was owned by businessman Stephen Cleeve, who took charge in 2016 but resigned as chairman in May.
He acknowledged at the end of 2023 that the club would face “troubles” without securing funding to continue the season, leading to TSI’s involvement the following month.
Cleeve will have “no formal role” moving forward and has written off his director’s loan, as stated by the club.
Chief Executive Bal Srai commented on TSI’s acquisition: “Today marks a pivotal moment for King’s Lynn Town Football Club.
“TSI has intervened to safeguard the club and provide the necessary space for us to rebuild in a responsible manner. Achieving long-term sustainability requires the community to unite with us.
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“Our objective is clear: to protect the club’s future and foster an environment for lasting success.
“We see ourselves as custodians, not permanent owners, and it is our duty to ensure that when we hand over control, it is to a club that is strengthened through community ownership, engagement, and pride.”
A fans’ forum is scheduled for December 4, allowing supporters to address the new leadership team.