Singaporean billionaire Peter Lim has denied reports to sell the Spanish football club Valencia CF for €400 million (S$562 million).
The Straits Times reported Lim’s company, Meriton Holdings, dismissed the rumours in a statement released on 3 March.
“Meriton wants to make it clear that such reports are false.
“Valencia CF is not up for sale and Meriton remains committed to Valencia CF,” it stated.
Spanish radio network Cadena Cope had reported that Lim spoke to Paris Saint-Germain president Nasser Al-Khelaifi about selling the club, sparking speculation that he was ready to let go after more than a decade.
The report reignited long-standing rumours that Lim, who acquired a 70.4 per cent stake in Valencia in 2014, was ready to offload the club amid its ongoing financial struggles and poor performances on the pitch.
While there have been some highlights like the Copa del Rey win in 2019, Valencia’s fans have grown frustrated with poor performances, rising debts, and constant management changes.
Fans have been vocal, regularly holding up “Lim Go Home” banners during matches.
Some even took their protests to Singapore last year, where two Spanish fans were warned by local police for displaying the banners outside Lim’s home.
Adding to the drama, Valencia announced that Lim’s son, Kiat Lim, will take over as club president on 5 March, replacing Chan Lay Hoon.
The move is seen as a signal of the family’s continued commitment.
However, during the club’s annual general meeting in December, Chan admitted that if the right offer came along, they would consider it but insisted there was “no hurry to sell.”
As the rumour mill keeps spinning, names like Cristiano Ronaldo and Saudi investors have been thrown into the mix as potential buyers.
With Valencia currently 18th in La Liga and facing possible relegation, fans are desperate for change.
As for now, Lim is making it clear, he’s staying put.
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