PKNS, Tengku Amir, two other parties to hold shares in privatised Selangor

Selangor secretary-general Johan Kamal Hamidon confirmed the names of team that will be privatised, as well as that of the owning company's.

BY        ZULHILMI ZAINAL       Follow on Twitter

In Goal's earlier conversation with Selangor secretary-general Johan Kamal Hamidon, he also revealed more updates on the team's privatisation plan, specifically on its ownership.

According to him, four parties are set to hold partial ownership of the club once it is privatised.

After it recently took over another Shah Alam-based Super League outfit PKNS FC, the club's original owner, the Selangor State Development Corporation (or better known by its Malay acronym PKNS) is set to have 30 per cent shares in the newly-formed club, along with other parties.

Since its inception, the team has legally been a football association, the Football Association of Selangor (FAS), and is currently led by president Tengku Amir Shah Sultan Sharafuddin, the crown prince of the state of Selangor. The separation and privatisation of its first team will see it becoming a proper football club.

"We have one more state agency [set to own shares] and this is to be confirmed, while the rest will be owned by FAS and Tengku Amir. He is also open for other investors to come in and own some shares.

"But this is still in the planning stages because we have yet to hold the first board meeting, which will ideally take place in early February," said the association official.

When asked by Goal, Johan also confirmed the names of the entities; the team will be known as Selangor FC, while the ownership firm will be named Red Giants FC.

However, he could not confirm whether the crown prince will be the club's majority owner, by owning 51 per cent of the shares.

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