The new investors have bought 25% of the club’s total shares.
Luca Soccer Club, a Malappuram-based football team, which plays in the Kerala Premier League (KPL) have secured foreign investment from a Dubai-based company ahead of the upcoming season, Khel Now understands. The unnamed company have bought a controlling stake at the club, and the investment is likely to turn them into one of the most high-profile sides from the state.
“The company has bought 25% of the club’s total shares. They will be the new sponsors-cum-investors, and they have already sponsored some amateur clubs in UAE previously. Luca Soccer Club will be one of the first professional clubs to come to an agreement with them,” a source close to the developments informed Khel Now.
“The deal is practically done and an official announcement can be expected soon,” the source added. It has been understood that the new investment will help the club in several ways, particularly in terms of youth development and infrastructure.
“The club recently opened their new residential academy. Of course, development of grounds is also under consideration as part of this investment, but obviously it will take time,” the source quipped. Furthermore, they are understood to be pushing for entry via merit into the upcoming 2nd Division League as well.
Earlier in 2020, Luca Soccer Club had also tried to gain admission into the I-League via corporate entry. However, they withdrew from submitting their official bid to the AIFF in the very last moment, resulting in Sudeva FC winning the bid to enter the league. So far, Gokulam Kerala FC have been the only Kerala-based club to have participated in the competition via corporate entry.
Even as Luca Soccer Club decided against submitting their bid this season, the management made it clear that they had ambitions at the national level, and they will try to gain entry into the 2nd Division League on merit.
According to our source, certain clubs who qualified for the competition might not field their teams in the upcoming 2020-21 season. If they officially withdraw themselves from participation, Luca Soccer Club would be the next in line considering they finished third in the group stage of the KPL during the 2019-20 season.