La Liga news

Valencia president encourages Lim offer

December 23, 2013
By Dermot Corrigan, Spain Correspondent

Valencia president Amadeo Salvo has publicly pressured the club’s bankers into accepting a shock 400 million euro plus offer from Singapore businessman Peter Lim to buy the Liga outfit outright.

Mestalla view general stadium Valencia
PA PhotosValencia's current home is the Mestalla.

Salvo did not provide any exact figures when talking to reporters at a surprise news conference on Sunday afternoon, but suggested that Lim would pay off all the club’s various debts of over 300 million euros and also immediately provide 30 to 50 million euros for new players.

As recently as early December both Salvo and the president of the club’s foundation were asking for a refinancing of its loans to enable them to put together a workable plan for the future, but he now says Lim’s offer would solve all the club’s problems in one fell swoop.

“[Lim] made us an offer which would settle the debt of the foundation, the debt of Valencia with Bankia, and he would immediately invest an important amount of millions of euros in the first team,” Salvo said.

The Los Che chief said Lim wants an answer to his proposal before Jan. 15, apparently so that the new regime can buy players before the end of that month who will help the club to make up a current 13-point gap to fourth-placed Athletic Bilbao and secure qualification for next season’s Champions League.

“This is a difficult offer to equal, not just for the financial side but in its global aspect,” Salvo said. “Mr Lim said he would only wait until Jan. 15 because he wants to build a competitive team, and bring in reinforcements during the winter window.”

Lim has previously been linked with moves to buy Atletico Madrid, Liverpool and Middlesbrough without anything coming of it -- and was publicly scathing when his 2010 bid for the Anfield club was rejected by then Reds chairman Martin Broughton.

Marca reports that Lim was introduced to Salvo by Portuguese agent Jorge Mendes, who since last summer has been working closely with the club on transfer matters, including the third-party investor funded signing of Colombian attacker Dorlan Pabon in August.

Valencia continue to struggle on the pitch, and are currently 11th after losing 3-2 at home to Real Madrid on Sunday evening, with youth team coach Nico Estevez in temporary charge after previous boss Miroslav Djukic was sacked last week.

The plan to install current San Lorenzo coach Juan Antonio Pizzi on the Mestalla bench would apparently continue should Lim take control of the club, with Salvo maintaining that he and the current board would remain under the proposed new ownership regime.

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