Krishna steps down as chairman of Tampines Rovers
The Football Association of Singapore (FAS) announced yesterday that Krishna Ramachandra has stepped down as chairman of S.League side Tampines Rovers, with effect from Tuesday.
Krishna had announced his intention to give up the chairmanship of the club on June 21, but stayed on for the last two months to help the FAS in ensuring that the club are financially stable with proper structures in place for the next management committee.
The New Paper had earlier reported that Tampines had taken up a $756,000 interest-free loan from a "credit line" sponsor, Taiwanese tech company Nogle, and will start repayment of $21,000 per month only next year.
Krishna has also sought legal representation over a separate loan of $190,000 from former sponsor Komoco Motors.
He is disputing the veracity of the loan after Komoco, under former Tampines chairman Teo Hock Seng, has demanded repayment.
"We are happy with the assurances that Krishna has given us as to the financial position of the club," FAS vice-president Edwin Tong told The New Paper yesterday.
"And we will make an appointment of the new chairman shortly."
TNP understands that Desmond Ong is the man who will take the reins at Tampines in an appointment that could come as early as next week, with the current three-member management committee, along with general manager Desmund Khusnin, taking charge of the club until Ong's official appointment.
Krishna had earlier told TNP that he would like to continue to serve in the club's management committee, but TNP has learnt that he will play no further part in the club.
"It has been an enriching experience being involved with the S.League and Tampines Rovers. I have certainly learnt a lot during my tenure," said Krishna.
The corporate lawyer took charge of the five-time league champions in November 2015 and, for a period, put Tampines on the world football map with the signing of former Arsenal winger Jermaine Pennant.
But it turned out to be a difficult 22-month stint for Krishna, as the Stags faced various administrative issues, including cash-flow problems.