Acting Valletta FC president Alexander Fenech confirmed ongoing talks with a foreign company to take control of the football club.
While the company remains unnamed, it is believed to be Insignia, a luxury lifestyle management and financial services firm that previously sponsored Valletta FC during their successful 2013-14 season, SportsDesk reported.
Following the entire committee’s resignation after the club’s first relegation in 118 years, new elections are set for June 11.
Fenech stated that discussions are progressing well and the potential investment could significantly boost the club’s finances, with plans to invest millions of euros to restore the club’s former glory.
Insignia’s past involvement had a notable impact, including recruiting key players and coach Andre Paus, leading to a league and cup double victory.
SportMalta is involved in the process, and Fenech expressed hope for advancements in the project, emphasizing the need for Valletta FC to have its own stadium.
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