Valletta FC on Tuesday night headed into a new era after the club members approved with a strong majority a motion that would see the capital club being financed by a newly-formed company that will be chaired by former club president Victor Sciriha.

Alexander Fenech will return at the helm of the club as president after he had handed in his resignation last May at the end of the FA Trophy final defeat to Floriana.

Speaking during a well-attended Extraordinary General Meeting, Fenech explained to the club members the new strategy the club was proposing to its members.

Valletta FC will remain as a voluntary organisation, however, a company, named Valletta FC Holdings Ltd, will be formed by a number of investors that will absorb the financial expenditure of the club and at the same time lead the capital side to a stronger and more sustainable financial future.

The motion was put forward by former president Victor Scriha and Fenech and received a strong backing from the members present, with only two votes against and nine abstentions.

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