Saturday, October 25, 2014

Official: Peter Lim the new owner of Valencia CF

Its official ladies and gentleman, Peter Lim is the new owner of Valencia CF. This means Peter Lim now owns 70% of the shares in Valencia CF, the majority stock that the 'Valencia foundation' used to own.

The agreement for the refinancing of the debt was reached earlier in the previous day on the 24th on central eastern European time with Bankia and this meant that Meriton can officially purchase those shares and become the owner of Valencia CF.

We don't know the details of the debt refinancing, its supposed to be around 230 million euros that Meriton will have to pay off in the next 2 years I think, but at this point we just don't really know. Hopefully it becomes more clear as more information is shared.

What this means for Valencia CF is that new loan players like Moreno and Gomes and others will become ownership of Valencia CF and Peter Lim can now also move in the winter transfer market and bring in more reinforcements.

Peter Lim has already invested over 60 million euros in reinforcements for Valencia CF, Negredo costs about 25 million euros, Gomes and Moreno together cost around 30 million euros.