Singaporean businessman Kiat Lim has been appointed the new president of Spanish football club Valencia CF, taking over from Chan Lay Hoon on 5 March.
The 31-year-old, who has been a director at the La Liga club since 2022, is the son of Peter Lim, the club’s majority shareholder.
His appointment comes at a pivotal time, with the club languishing in 18th place in La Liga with just 12 matches left to secure survival.
A statement released published in the Straits Times by Chan described Kiat Lim’s appointment as a reflection of the shareholder’s continued commitment to Valencia CF and its future.
The leadership transition follows renewed speculation over Peter Lim’s ownership.
Spanish media recently reported that Lim had discussed a possible sale with Paris Saint-Germain president Nasser Al-Khelaifi, with a reported asking price of €400 million (S$564 million).
There were also rumours of football superstar Cristiano Ronaldo being linked to a potential takeover, backed by Saudi Arabia’s Crown Prince Mohammed bin Salman.
Meriton Holdings, the investment vehicle holding Lim’s stake, denied the reports, stating that the claims were false and reaffirming that Valencia CF was not up for sale, with Meriton remaining committed to the club.
Valencia fans have long voiced their dissatisfaction with the club’s management under Peter Lim’s ownership, staging protests and burning effigies of the businessman.
In October 2024, two Spanish tourists were issued warnings by Singapore police for displaying a “Lim Go Home” banner at various locations, including outside what they believed to be Lim’s residence.
Despite the controversies, Peter Lim has maintained his commitment to the club, which he acquired in 2014 for €420 million, a move that helped rescue Valencia from financial ruin.
Under his ownership, Valencia won the Copa del Rey in 2019 and qualified for the Champions League three times, though the club has struggled in recent seasons.
However, instability and inconsistent performances have overshadowed those achievements in recent years.
As Kiat Lim assumes the presidency, he faces the challenge of rebuilding trust with the fans and steering Valencia towards stability, both on and off the pitch.
MAIN PHOTO: THE EDGE