For-Sale La Liga Side Valencia Reportedly Eyes U.S.-Based Cerberus, China's Wanda Group
The committee managing the sale of La Liga side Valencia, which includes the club, majority shareholder VCF Foundation, lender Bankia and the Valencia City Council, will "evaluate offers for Valencia until May 3 with the objective of making the best decision on the sale of the club, although some things are already clear to the members of the committee," according to Julián Montoro of SUPERDEPORTE. On "one hand, a delay was requested due to doubts around the credentials and economic solvency of more than one of the six bidders, something of which the committee wants to assure itself before ruling out any of the proposals." There are "at least two offers that meet all the requisites and it can be said that these are currently the principal favorites." Those favorites are U.S.-based investment firm Cerberus Capital Management and Chinese multinational Wanda Group. This is "not to say that the others are ruled out." Cerberus Capital is "Bankia's favored proposal." Bankia, "though, is not underestimating the economic potential" of the offer from Wanda Group. Both "Bankia and the Valencia City Council see in the Wanda Group's offer many possibilities for investments beyond the football club." Valencia fans "also have shown more confidence in the Chinese offer" (SUPERDEPORTE, 4/22).
ADIDAS TRANSITION: SUPERDEPORTE reported Valencia has lowered the cost of official club merchandise made by Spanish brand Joma, which will be replaced by adidas next season as the club's kit sponsor. There "are websites now selling official Valencia shirts for a third of their original value" (SUPERDEPORTE, 4/21).