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SBD Global/December 24, 2013/Franchises

La Liga Valencia Principal Creditor Bankia To Review Peter Lim's Offer To Acquire Club

Spanish bank Bankia is "studying an offer by Singapore billionaire Peter Lim" to acquire La Liga side Valencia, under which Valencia President Amadeo Salvo said that it "would pay off long-standing debt owed to the bank," according to Alex Duff of BLOOMBERG. Salvo added that Bankia wants "between four and six weeks to wait for competing offers." Lim set a deadline of Jan. 15 to complete the transaction. Lim could not "immediately be reached for comment and a Bankia official declined to comment" (BLOOMBERG, 12/23). In Madrid, Cayetano Ros reported "in recent years, Lim has been interested in buying a club." Former Valencia President Manuel Llorente "held negotiations with Lim, but a firm offer never arrived." Salvo indicated that Lim is "looking to help the club pay off its debts and sign footballers to help the team compete in Europe." Salvo "also assured that Lim would keep current employers and managers in their positions" (EL PAIS, 12/22).
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