The struggling Football Kingz have received an unexpected but welcome change of fortune with a cash injection from new director and shareholder Brian Katzen.
A London-based businessman, Katzen has taken a 10 per cent shareholding in the club, and is not ruling out increasing that over time.
Katzen, amajor shareholder in English third division club Swansea, made his move to join the Auckland-based Kingz after 18 months of discussions with club major shareholder and chief executive Chris Turner.
"We are very pleased with the outcome of those ongoing discussions," said Turner. "We assessed the assets and came up with a figure acceptable to both parties. We are very pleased to have Brian with us on both a personal and professional basis."
Turner said the amount paid would remain confidential.
Katzen, a regular visitor to New Zealand where he has a brother and parents, said he hoped the arrangement would fit in with the joint venture announced last week between the Kingz and English premier club Chelsea.
"I believe Swansea will hopefully provide Chelsea with another platform for their players and more importantly they will see this as another benefit being provided to them by the Kingz."
Katzen lived in the US for 10 years before his recent move to London with his wife. He has substantial business interests.
"It was through investing in companies I became involved with Swansea. I then believed having interests in more than one club and in different regions there could be benefits for both."
The other shareholders are Turner, Sky Television, Auckland lawyer Ted Midlane and founding director John Batty.
New Zealand Soccer chief executive Bill MacGowan said he was aware of the new shareholding and has asked the Kingz for further information as part of the approval process.
