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SBD Global/August 15, 2014/Franchises

Sinagaporean Peter Lim Reportedly Acquires Valencia Following Approval From Bankia

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Peter Lim "has bought" La Liga side Valencia, according to Julián Montoro of SUPERDEPORTE. Sources within Lim's Meriton Holdings "confirmed that paperwork confirming agreement on all points of dissension has finally arrived and the transaction is complete." After receiving a visit from Valencia President Amadeo Salvo and "hearing the fan base in the streets of Valencia," the Singapore businessman "stepped forward with the firm intention of ending the uncertainty and reaching the long awaited and very complicated agreement" with Valencia lender Bankia. At the "last minute," after hours of negotiations, "Meriton sent the latest proposal, which again ceded to some of the bank's demands, to Bankia." The objective was to "sign a definitive contract to reflect the agreement that both parties reached on June 6." The "last offer from Lim arrived in Madrid marked urgent," because Lim's intention was "to not wait another day -- to sign the document Thursday night." The matter "could have been complicated again had no agreement been reached by Friday, as everything would have been suspended until at least Monday." Nearly "eight months after Meriton's first contact with Bankia to buy Valencia, it was done on Thursday." Lim "called the transaction, which will not be officially announced until it is signed, official" (SUPERDEPORTE, 8/14).

FANS VOICED CONCERNS: In Valencia, Andrés García reported before the news of the agreement, Valencia fans "took to the streets and raised their voices against Bankia, tired of the bank not resolving the sale." Around 2,000 people "clamored for the future" of the club around the Mestalla stadium and later marched "toward the center of the city and the headquarters of Bankia." National Police offers "stopped the fans with police cordons." The "true purpose of the march was to peacefully show indignation with the bank." On Twitter and social media, #domingonosvemosenmestalla was a trending topic (SUPERDEPORTE, 8/14).
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