Tuesday, May 13, 2014

Valencia CF to be sold Saturday

This Saturday we should know who is the new owner of Valencia CF. All of the finals offers are in place and the final decision on who buys Valencia CF should be made in Saturday.

Peter Lim, US investment fund Cerberus Capital Management is in the running as well, Wanda Corporation and an Arab investment fund are said to be the contenders for the purchase of Valencia CF.

Since the offers are not public, we have no way of certainly knowing who offered what and how much, and anything we get in the media is probably wrong. So at this point there is no clear favorite or no clear best offer and we'll just have to wait and see what Bankia, the Valencia CF foundation and the regional government decide.

Cerberus Capital Management, the New York-based private equity firm in 2011 purchased the Embassy Suites hotel in Valencia and 63 other hotels across the country from Innkeepers USA Trust of southern Florida. Cerberus made the purchase in partnership with Chatham Lodging Trust, a Florida-based real estate investment trust.

They've had several other investments in Valencia and Spain in general and capturing large part of the sporting industry through Valencia CF is seen as the next step.

We don't know much about the Chinese Wanda offer and what we know about Peter Lim;s offer we've already written about here on this blog.