Valencia owner Peter Lim sets asking price as club is put up for sale – report | OneFootball

Valencia fans look a step closer to the thing they have been asking for after owner Peter Lim reportedly put the club on the market. The Singaporean magante has been in charge since 2014, but has become public enemy number one at Mestalla.

Lim’s initial intervention saved the club from administration, but over the years, the money has stopped flowing. Ever since Lim decided to sack manager Marcelino Garcia Toral for prioritising their Copa del Rey final victory in 2019, things have been on downward slide. In the last three seasons Valencia have flirted with relegation, and since exiting European football, have been in a cycle of selling their best players every summer. Lim has also refused to invest more money in the Nou Mestalla stadium project, leaving it dormant for more than a decade.

His decision making at the head of the ownership group Meriton Holdings has led to significant backlash towards him and chairwoman Layhoon Chan, as well as her predecessor Anil Murthy. The ‘Lim go home’ campaign is a constant feature at home games now.

Image via VCF

Hence it will please Valencia fans to know that Lim has put the club up for sale, as per Cadena Cope. He is reportedly looking for €400m in exchange for his majority share in the club. There had been reports that Lim might be making moves to relinquish control of Valencia earlier in the season, but now it will come down to whether he can find a buyer.

Los Che have seen their value plummet over the last five years, and the club is still nursing considerable debts. While the club has agreed a plan of action with the city council to restart work on Nou Mestalla, the new buyer will likely have to help fund construction. There has been previous interest from a prince of Indonesia in buying the club two years ago, but Lim showed no interest in a sale.