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SBD Global/December 23, 2013/Finance

Singapore Tycoon Peter Lim Reportedly Interested In Buying La Liga Side Valencia

La Liga side Valencia President Amadeo Salvo said on Sunday that "Singapore businessman Peter Lim was interested in buying the financially troubled club," according to the AP. Salvo: "Peter Lim's offer is amazing." The Valencia president said that the offer "includes paying off Valencia's debt and money to spend on new players." Salvo said that Lim placed a "deadline of Jan. 15 for the club and its creditors to decide." Salvo said, "The club has to sell for a price between 200 and 250 million euros ($273.5M-341.8M). The new investor has to eliminate the debt we have with the bank, invest in players, promise to finish the new stadium and to let the club be run by the people of Valencia. Lim's offer meets all these requirements." Lim has a "net worth of $2.05 billion, according to Forbes." Valencia is "one of seven Spanish clubs being investigated by the European Union for allegedly receiving illegal public aid" (AP, 12/23).

LONG SEARCH POSSIBLY OVER: In Madrid, Fernando Álvarez wrote "Salvo has looked for a Valencia investor for months and seems to have found one thanks to player agent Jorge Mendes." During the search, "together with Valencia Marketing Dir Luis Dowens, who has connections with Mendes, they learned of Lim's interest." Those who "have been taking part in the negotiations" indicated that Lim's "initial investment" will be €400M ($546.9M), with which he will "buy shares, pay off Bankia, finish off the stadium and invest in the team." Earlier in the year, Lim "held talks with Atlético Madrid, though in the end nothing came of it" (MARCA, 12/22).
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