Menu
Download the app

SBJ subscribers – Enhance your experience with the revamped iOS app

Franchises

Valencia President Amadeo Salvo Criticizes Bankia, Says Club Is Not A 'Chorizo Business'

La Liga side Valencia President Amadeo Salvo has criticized the club's lender, Spanish bank Bankia, "saying a football club is not a 'chorizo business,'" according to Dermot Corrigan of ESPN. Bankia and accounting firm KPMG have "reportedly already discarded the public offer made by Peter Lim as the Singapore businessman did not follow the requested procedures." Salvo and Valencia majority shareholder VCF Foundation President Aurelio Martinez are "upset at not being included in the sale process," but Bankia feels it can "make a unilateral decision as the football club have long stopped making repayments" on a €300M-plus loan. No "details of the other bidders have been made public," but Spanish newspaper El Mundo reported that U.S. investment fund Texas Pacific Group, Qatari investment fund QIA and a "group called 'Always Valencia' headed by former player Fernando Gomez Colomer are still in the running" (ESPN, 1/27). In Madrid, Conrado Valle reported Salvo "wants VCF to lead the process." Salvo "explained that he wants to defend what is best for the club." Salvo promised "not to give a single document to any person club executives do not know for the club's financial situation to be examined." Salvo: "Valencia is a 'feeling' that you cannot sell like a chorizo business. From now on, it is us who are in charge of this sale, not Bankia" (AS, 1/24).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2014/01/28/Franchises/Valencia.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2014/01/28/Franchises/Valencia.aspx

CLOSE