TFCSB, XFOX AGREE TO MUTUALLY TERMINATE SPONSORSHIP DEAL

KUALA NERUS, June 11 (Bernama) -- Terengganu Football Club Sdn Bhd (TFCSB) and XFOX Market Holdings Sdn Bhd have mutually reached an agreement to terminate the RM1.5 million private sector sponsorship for the Terengganu FC (TFC) football team.

This follows speculation that went viral on social media after the sponsorship agreement was signed by both parties on June 9, that the sponsoring company was on the list released by Bank Negara that stated that the company was not authorised to conduct financial-related services.

TFC chief executive officer Mohd Sabri Abas said the decision to back out of the done deal was taken to maintain the harmony of the club and respect the views of the supporters who are the backbone of the team.

He said the agreement was dissolved without any claim between the two parties concerned nor with the national football industry.

“For the sake of club harmony and taking into account the supporter’s vocal opposition, TFC has held discussions to see the best solution to this issue.

“(Hence) TFCSB and XFOX Market Holdings Sdn Bhd are ready to dissolve the sponsorship without any claim. TFC will return the sponsorship fee of RM1.5 million that has been paid,” he said in a statement today.

Mohd Sabri also explained that TFC's decision to collaborate with XFOX Marketing Sdn Bhd was initially made after witnessing the company's travel operations, particularly the XFOX Arena in Subang Bestari, which provides a synthetic football field.

According to him, the matter was seen to be compatible with TFC’s operation as a football club.

“However, this collaboration received different views from various parties. There was an acrimonious atmosphere and various accusations levelled against TFC due to this agreement which affected the harmony of the club,” he said.

Following the mutual settlement of the contract dissolved, Mohd Sabri said TFC will try to secure other sponsors to face the Asean Football Federation (AFF) 2024 Shopee Cup which will kick off on July 17.

(Shopee being the title partner of the inaugural Shopee Cup which is an ASEAN Club Championship, will be played in a league format by 14 of ASEAN’s leading football clubs).

-- BERNAMA