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La Liga Side Valencia President Lay Hoon Chan Announces Planned Capital Increase

La Liga side Valencia President Lay Hoon Chan announced that the club's administrative council on Wednesday approved of a proposed capital increase of €100M ($112M), according to SUPERDEPORTE. She said, "This has been planned since the first day we accessed the club. Last July 1 I said that Meriton would agree to capitalize the loan of up to €100 million." She added, "That month, Meriton also granted the club an additional €80 million line of credit for the club's financial needs" (SUPERDEPORTE, 9/30).

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