Lithuanian A Lyga club FK Riteriai have been acquired by ‘Red Card Global’ – a sports marketing and player development agency from Singapore.
Exciting times may lie ahead for FK Riteriai, who returned the A Lyga this season after spending a year in the second tier following surprise relegation in 2023. Sportas.lt, and 15min.lt before them, reports that the acquisition process of the club by a Singaporean sports marketing and player development agency ‘Red Card Global’ is close to completion, with new owners already running the club.
According to the now former owner of the club, Jano Nevoinos, Red Card Global were not the only bidders for ‘The Knights’, but that their vision for club development both in terms of player growth and internationalisation of the brand was most aligned with the core values of the club originally based in Trakai. Speaking to Sportas.lt, Jano Nevoinos explained:
We were looking for ways for the club to move forward. In recent years, a new trend has been increasingly established in the world – football investments from the North American and Asian markets. Singapore, which is one of the world’s major financial centers, has not only a clear strategy for the development of sports, which can help not only our club, but, I believe, all of Lithuanian football. I am glad that Riteriai has become a part of this strategy.
Red Card Global, which alternates in describing itself between a sports consultancy, sports marketing and media agency, and a sports and lifestyle media organization, already has presence in Europe in Spain and Germany, and will now be looking to enter and build on the Lithuanian market as well. “We are ready to implement a long-term strategy that will promote the development of talents in Lithuania and provide them with opportunities to demonstrate their abilities on the international stage. We believe that our experience in the fields of sports marketing, digital innovations and player development will help Riteriai become an even stronger club,” commented Sasikumaras Ramu, CEO of Red Card Global.
Baltic Football News spoke to the newly appointed Riteriai head coach Nikola Vitorović about whether there has been any noticeable impact on the players and the coaching staff since the takeover:
I took over here some days after the takeover was concluded. You can see that they’ve already started upgrading the facilities, starting with developing the gym areas for us. We are getting all the equipment and there is now a very professional timeline in trainings – we can use the facilities we need for as long as we require, not just an hour limit, for example, which is how I’ve seen elsewhere. We have to get what’s the best for the team but also what’s the best for future of the team. When I spoke to the owners, there is full backing of the team and of myself from their side and we all agree on the common goal – to develop the team.
As for Jano Nevoinos, the previous owner, his further role in the club will be revealed after the official completion of the deal. “The contract has already been concluded and the transfer process is underway. Since the beginning of this year, the new owners have been responsible for the club’s budget and equipment, and I believe that their plans and investments will give Riteriai new impetus,” he noted optimistically.
Source: https://www.sportas.lt/naujiena/516395/riteriai-nauju-savininku-is-singapuro-rankose
