XOX Bhd today inks a memorandum of understanding (MOU) with Impact Media and Communication Sdn. Bhd (IMC) to purchase Perak Football Club for RM1. The proposed acquisition provides an opportunity for the tech company to expand its reach further, by enlarging its ecosystem to incorporate football, is very much in line with XOX's history in supporting the local sporting community.
The 100 year old Perak FC is the third most successful club in Malaysia Cup history, having won the competition a total of 8 times, with the last in 2018. It also won the inaugural FA Cup in 1990, a feat it repeated in 2004. Perak FC has an estimated fanbase of half a million fans, and Perak state is widely known to house the nation's most fanatical football fans.
With this acquisition, XOX will hope to emulate the subscriber growth from tapping the football fan base, as well as generating new media content for consumption of its subscribers. The year-on-year (YOY) revenue increase and market share acquisition is directly correlated to XOX's venture with the TKKR racing team. The team prides itself in nurturing grassroot riders, providing a platform to aspiring racers a chance to race professionally.
Upon completion of the purchase, a Perakian born in Batu Gajah, Dato' Seri Abdul Azim Mohd Zabidi, who is the chairman of XOX Bhd, will be appointed to Perak FC in a senior capacity as a representative from XOX to assist the transition. Previously, Dato’ Seri Azim was the chairman of Institut Sukan Negara (ISN) and was appointed as the Malaysian Chef de Mission to the Asian Games 2018 in Jakarta and Palembang by the Olympic Council of Malaysia.
During the signing ceremony, Dato' Seri Azim presented Perak FC’s team coach, Yusri Che Lah, a cheque for RM100,000 for unpaid salaries as part of a corporate social responsibility (CSR) Hari Raya aid package meant for the players and team personnel that have stayed with the team during tough times.
“It pains my heart to see my beloved Bos Gaurus be in such a sorry state of affairs. The new management will strive to bring back the glory days of Perak FC together with the support from our fans. Kejor Yeop Kejor!,” said Dato’ Seri Azim.
First order of business for the incoming management is to pay off all due salaries to the team, revive and refresh the training facilities, and to restart its grassroot development program in line with the company’s focus on developing local talent.
