Sea’s billionaire founder Forrest Li confirms bid to become Singapore football chief

Lion City Sailors chairman Forrest Li, pictured with winger Maxime Lestienne, has confirmed that he will be running for the presidency of the Football Association of Singapore. PHOTO: LION CITY SAILORS

SINGAPORE – Tech billionaire Forrest Li has officially thrown his hat into the ring in the contest for Singapore football’s top post.

A spokesman for Li told The Straits Times on March 17 that the chairman of Singapore Premier League club the Lion City Sailors will be running for the role of president at the Football Association of Singapore (FAS) elections on April 28.

“Forrest Li has confirmed that he will be running for the FAS presidency, and he looks forward to sharing more about his team in the coming fortnight,” said the spokesman.

The confirmation follows FAS’ press statement on March 17, when it announced the date of its extraordinary congress and elections. The national sports association said that the election of its council members for the four-year term from 2025 to 2029 will be carried out in two ways: A slate basis and on an individual basis.

In the first, a team comprising nine candidates for the posts of the president, deputy president, four vice-presidents and three council members are proposed and elected en bloc.

For the individual basis, the remaining six council members will be proposed and elected individually. The FAS council shall consist of at least one female member.

According to the FAS, the deadline for nomination of candidates to the FAS general secretariat is March 31 while an announcement of candidates qualified to contest the elections will be held on April 18, 10 days before the extraordinary congress.

Sea Limited founder Forrest Li (left) is seen with current president of the Football Association of Singapore Bernard Tan at Jalan Besar Stadium on Dec 9, 2023. ST PHOTO: KELVIN CHNG

With the latest development, it remains to be seen if there will be a contest on April 28.

Incumbent FAS chief Bernard Tan was elected for the remainder of the 2022-2025 term at the FAS’ annual congress in September 2023 and he has not confirmed if he will stand for re-election.

Tan declined comment on March 17 when contacted by ST.

Having previously served as vice-president (from 2013) and deputy president (from 2017), Tan became acting president in September 2022 after then president Lim Kia Tong died. Lim was the FAS’ first elected president in 2017 before he was returned unopposed four years later.

Former Woodlands Wellington general manager R. Vengadasalam is also one of the names that could feature in the elections. When contacted on March 17, the 64-year-old said: “I am still looking at the possibility of forming a team. I have three to four members in my team and we will work towards the March 31 deadline for nomination of candidates.”

For now, the fraternity will await news of Li’’s team and their manifesto for local football in the next four years.

The founder of homegrown tech firm Sea Limited, Li reportedly has a net worth of US$8.4 billion (S$11.3 billion). He ranked 12th on Forbes’ Singapore 50 richest list in 2024.

New York Stock Exchange-listed Sea Limited owns e-commerce platform Shopee and also operates businesses in gaming and digital finance.

According to the FAS Constitution, a candidate for the office of the president must have played an active role in association football (as board member, committee member, or an official within Fifa, a confederation, an association or an ordinary member of FAS) for two of the last five years before being proposed as a candidate.

While Li is currently Sailors chairman, there is no provision in the FAS Constitution that prohibits a senior club official from taking up an exco role at FAS. Current FAS vice president Thavaneson Selvaratnam is also the chairman of SPL side Balestier Khalsa.

Li, 47, a naturalised Singapore citizen is no stranger to local football. In 2016, Garena, which is the digital entertainment arm of parent company Sea Limited, inked a $4 million, two-year deal with SPL side Young Lions. The partnership included a $2 million cash sponsorship, with an additional $2 million for developmental programmes for the squad.

In 2019, Li joined the Home United management committee before taking over the club and privatising them as the Sailors in 2020. He also served as an FAS council member from 2017 to 2021.

(From left) Lion City Sailors chairman Forrest Li, former Football Association of Singapore president Lim Kia Tong and Home United chairman Winston Wong. PHOTO COURTESY OF LION CITY SAILORS

Since Sea Limited’s investment, the Sailors have breathed new life into Singapore football. On top of winning the 2021 SPL title and the 2023 Singapore Cup, they have made a splash on and off the field.

In 2021, the club made waves with the signing of Brazilian midfielder Diego Lopes from Portuguese Primeira Liga side Rio Ave for €1.8 million (then S$2.89 million). It was the first time that a local club paid a multimillion-dollar transfer fee for a player. In the region, the Sailors have achieved some significant results, such as stunning Asian giants Jeonbuk Hyundai Motors 2-0 in Asian Champions League action in 2023. They recorded a shock 3-0 win over South Korean side Daegu FC a year earlier as well.

The Sailors are currently on a historic run in the Asian Champions League Two and will face Australian side Sydney FC in a two-legged home and away semi-final on April 9 and 16.

Under Li’s leadership, the Sailors also established a $10 million training centre – a 28,000 sq m facility along Mattar Road – in 2022 as part of a “commitment to revitalise local football”.

Former Singapore coach and forward V. Sundramoorthy, who is currently the technical director at the Lao Football Federation said that Li’s success at the Sailors only bodes well for Singapore football.

Sundramoorthy said: “For me, what he has achieved at Sailors is amazing… so, why not put himself up and try to do the same for Singapore football. And probably he can achieve the same he has achieved at Sailors. Looking at the big picture, what is our final (goal)? What we want is for Singapore football to benefit, whoever comes on board is immaterial, as long they can deliver.”

Former Singapore defender R. Sasikumar, who specialises in sports business development, added: “It’s always refreshing when a well known businessman comes forward. It can give us the organisational know-how given he’s organised his business and it is something FAS needs quite badly. I think it’s only positive, but it’s also important to note that he brings the right people in.

“Club management is completely different from national teams and national development, so if he brings on the right people and brings his acumen and also his resources and contacts into football, I’m pretty sure that we will head in the right direction alongside the UTR (Unleash the Roar!) project.”

Deepanraj Ganesan is a sports journalist at The Straits Times focusing on football, athletics, combat sports and policy-related news.

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