The offer to buy the shares of Valencia from Peter Lim and finish the new stadium amounts to 370 million


VALENCIA

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The economic offer of Miguel Zorio by the majority shareholder of the Valencia CF, in the hands of the Singaporean businessman Peter Lim, amounts to 370 million euros. A complex operation that includes the completion of the works of the New Mestalla, the details of which he will offer this Thursday at a press conference that will take place at the headquarters of the Peñas Association.

The one who was vice president of the Valencia Football Club during Vicente Soriano’s period and, for more than five years, one of the most critical voices in the management of Meriton Holdings at the head of the entity ‘che’, he has presented a firm proposal for the acquisition of eighty-three percent of the club’s shareholding mass.

According to the information offered by the platform The Valencian Sea, the economic offer for the shares and the project to finish the works of the new stadium, which have been stopped for twelve years, will be registered before a notary, at the same time that it will be explained point by point to all the Valencian fans during this Thursday. The amount of the operation adds 370 million.

According to Zorío himself, who will have to explain the financing on which the offer is based, his main objective is “to return Valencia to the Valencians”, understanding that the journey of Peter Lim and Meriton Holdings in the whole of the avenue of Sweden has come to an end.

Archive image of Valencia CF's largest shareholder Peter Lim
Archive image of Valencia CF’s largest shareholder Peter Lim – ABC

In the face of Zorío’s opposition, as well as in the face of the different purchase offers that it has received in recent months, Meriton has maintained its intention not to dispose of the majority shareholding that it owns since its landing in the capital of Turia in 2014.

All this at a time when Peter Lim’s popularity in Valencia It is in low hours, since the dismantling of the project headed by the general director Mateu Alemany, the coach Marcelino García Toral and the head of the technical area Pablo Longoria in 2019 marked the beginning of a stage marked by the shortage of signings and the reduction of Financial Fair Play, pressured by the lower sports performance of the team.

During the past season there was speculation about the sale of the shares of the Singaporean businessman to his friend Tunku Ismail Sultan Ibrahim, Crown Prince of the Sultanate of Johor (Malaysia). The operation, narrated live by the sultan on his Instagram profile, did not come to fruition.

Archive image of Miguel Zorío
Archive image of Miguel Zorío

Throughout this process, the intention of Meriton Holdings Failure to sell the shares it owns in the centenary Valencian club has been reinforced by the business agreement signed by LaLiga with the CVC international fund, which will inject more than 2,000 million euros into Spanish professional football.

Seventy percent of the economic amount that Valencia must receive from this operation will go to the improvement of infrastructures, which in the case of the ‘che’ club, focuses on the completion of works of the new stadium.

However, the latest UTE estimates put the remaining investment at more than 110 million, so Zorío could link his proposal to the sale of the plots of the current Mestalla stadium.

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