Kun Khalifat FC shareholders seek buyer for majority stake ahead of new NPFL season

Kun Khalifat FC could undergo a change of ownership after the shareholders of the Nigeria Premier Football League club began discussions with a prospective buyer for a controlling stake.

The potential takeover would allow a new investor to assume control of the Owerri-based side, although the transaction has not yet been completed. The club’s shareholders have asked the NPFL to begin the process of transferring ownership to the prospective buyer.

Kun Khalifat FC president Amaefula Michael confirmed the development in a letter to the league organisers, while making clear that negotiations remain ongoing.

“On behalf of the shareholders of Kun Khalifat of Owerri, I hereby confirm that we are in the process of handing over the majority shares of the company to a prospective buyer.

“You will be duly informed when the process is concluded. Meanwhile, we appeal to you to commence the process of transfer of ownership to the prospective buyer,” Michael wrote to the NPFL.

The proposed agreement would see the incoming investor acquire a majority shareholding in the club, subject to the completion of the required ownership transfer procedures.

No details have yet been released about the identity of the prospective buyer or the financial and operational terms of the proposed deal. Those details are expected to become available once the transaction has been concluded.

The timing of the takeover could also have implications for the club’s name. If the ownership change is not completed before the start of the new season, any proposed alteration to the name may be affected.

Kun Khalifat FC secured promotion to the NPFL during the 2024/25 season and entered Nigeria’s top flight for the first time in the club’s history.

The club faced significant funding difficulties during its maiden campaign but managed to retain its top-flight status. Their survival ensured that the side, known as the Pride of Imo, remained in the NPFL for the new season.

The ownership discussions now provide the possibility of fresh investment as Kun Khalifat FC prepares for another campaign at the highest level of Nigerian domestic football.

However, until the transfer process is formally completed, the existing shareholders remain responsible for the club. The NPFL is expected to be informed when an agreement has been finalised and the new ownership structure is officially confirmed.