Linnets given green light with takeover

King’s Lynn Town have agreed on a club takeover in another dramatic turn of events at The Walks.Just 48 hours after Stephen Cleeve revealed he was staying at the helm – it has been confirmed that Turn Sports Investments has been granted irrevocable Power of Attorney to make decisions on the club’s behalf.The proposed takeover involves Singaporean investors Turn Sports Investments and the Blue and Gold Supporters Trust.The deal, which is “subject to regulatory approval from the Department for Culture, Media and Sport (DCMS) and other relevant regulatory bodies”, will end chairman Cleeve’s nine-year association with the Linnets.A statement released by the club read: “King’s Lynn Town Football Club and Turn Sports Investments (TSI) confirm that chairman Stephen Cleeve has agreed to the proposed full takeover of the club by TSI and the Supporters’ Trust.”The proposal remains subject to review by the DCMS and other relevant regulatory bodies.”To facilitate this transition, Mr Cleeve has agreed to step back from all operational matters. “TSI has been granted irrevocable Power of Attorney to oversee the club’s decisions during this transitional period while regulatory processes are underway. “As part of the agreement, Mr Cleeve has been granted the opportunity to pursue a creative commercial initiative designed to support the club’s financial recovery and help address legacy liabilities, including the outstanding DCMS loan. Further details of that initiative will be announced in due course.”This arrangement marks a new chapter for the club — one focused on stability, transparency, and long-term sustainability.”TSI has made clear that it does not seek to run the club indefinitely. Its role is that of interim steward, with the goal of stabilising operations while working alongside the Supporters’ Trust, local authorities, and the broader King’s Lynn community to develop a future governance model that is sustainable and inclusive. “A key part of this effort is re-establishing the club as a central institution within the town — one that engages meaningfully with its supporters, creates long-term value for the community, and operates year-round in partnership with local organisations and businesses.”In the coming weeks, TSI and the club will begin consultations with key stakeholders — including supporters, sponsors, civic leaders, and local government — to ensure that future decisions reflect the values and needs of the community. “Volunteers, financial supporters, and others interested in contributing to the club’s next chapter are invited to step forward.”Further updates will be provided as key milestones are reached, including confirmation from regulators, updates from the Supporters’ Trust, and the announcement of additional footballing and operational appointments. “The club thanks Mr Cleeve for his contributions over the past nine years and looks forward to the continued support of its fans and partners as it moves forward.”That statement follows a week of huge uncertainty and disarray at The Walks.Manager Adam Lakeland was sacked following an interview on Radio Norfolk in which he revealed huge cuts to his playing budget next season.Twenty-four hours after Lakeland’s exit, the Trust and TSI representative Srai addressed members at a special meeting, at which a lengthy mission was released. The Linnets looked all set to unveil former Chesterfield and AFC Fylde boss James Rowe as the club’s new manager on Tuesday morning, until Cleeve announced he had secured a new business deal which would provide enough income to keep the club afloat next seasonThere was then a further twist on Wednesday night as The Blue and Gold Supporters Trust released a statement saying they had pulled the plug on negotiations with TSI.Lynn is currently in talks with several players over their futures at the club.They have already lost the services of club captain Josh Coulson, Greg Taylor and Dylan Crowe, while joint leading scorer Jonny Margetts was one of four players released.