Singapore Billionaire to save Valencia

Currently sitting 11th in La Liga the Spanish football club

Valencia has been for a number of years struggling with a huge burden of debt

after living beyond their means not to mention the unfinished 75,000 seat Nuevo

Mestalla stadium that construction was started on in 2007.

Money for the new

five-star UEFA venue ran out in 2009 leaving the $302 million USD concrete

structure looking for investors.

In 2011 Spanish bank Bankia who already owned most of the

club due to the money the club had borrowed stepped in to try and finish the project,

but were then themselves in trouble needing a bailout from the government that

ended up with the bank being nationalized and the construction project

cancelled.

Forced to sell off their best players to service its debt

Valencia actively went about trying to find an investor to take over the club,

and think they have found the right partner in Singapore businessman Peter Lim.

The 60-year-old Lim made his fortune in the stock market

owns a varied portfolio of companys ranging from fashion to food and beverage

concerns that can use the Spanish club to their advantage.

Private equity investor Bill Ng who was part of a consortium

to buy Scottish soccer giants Rangers last year for $30 million says he knows

Lim well and that he would not dive blindly into a deal with Valencia C.F.

saying: “I have no doubts about Peter’s judgment and ability. He is in a

league of his own when it comes to investments.

“He is someone who knows how to turn businesses around

and even though football is his passion, it is no different.

“I’m glad that he is helping to put Singapore on the

world football map.”

If Spanish sports daily MARCA is to be believed Lim has

already promised $60 million for new players in January with the club looking

to sign Manchester City striker Edin Dzeko.

Bosnian international Dzeko has only played in three games

for City since August after being made manager Manuel Pellegrini’s third choice

striker behind Agüero and Negrado.

Lim has already said that Champions League football will be

a priority for Valencia, and given the current make up of La Liga it is

certainly an achievable goal.

Singapore Billionaire to save Valencia