The future of the Valencia CF, the most important sporting institution of the Valencian Community, and without a doubt, one of the most renowned all around Spain, owing to the large number of fans it has come by over the years, will be written from Singapore, starting June 2014. Reason being no other than the arrival of multimillionaire Peter Lim in Valencia. Lim is the new owner of the club, after an agreement with the Fundación Valencia CF, trust of the club, and Bankia, the entity with which the Valencia CF still has a huge debt.
Since the glorious days with trainer Rafael Benítez on the bench, during which the team was considered to be one of the best of the world, after winning two Spanish league titles, an UEFA Cup and one UEFA Supercup, the Valencia CF has languished progressively, losing its formerly achieved sporting glory and accumulating an enormous debt. This debt was mainly generated by the so far unsuccessful attempt of constructing a new stadium and the inability to sell the land the historic Mestalla stadium is currently set on.
However, there must be something to it, as the sale of the club has generated a huge interest among those who have have sufficient funds to invest, as well as large corporations and wealthy business owners. Finally, and after a long selling process, Peter Lim, the in his native country so called ‘Remisier King’, managed to make the grade and will therefore be the new owner of the Valencian team.
Lim is not unknown in the world of sports. He has businesses in Asia connected to Manchester United, he invested in the Formula 1 team McLaren and before he put his eyes on Valencia, he expressed interest in other clubs such as Atlético Madrid, Liverpool and Milan. He arrives at the club during a depressed economy and in terms of sports, the team hasn’t managed to take part in the European competitions after recording one of its worst domestic seasons in years. It is now in his hands to restore the historic glory of this Spanish team.
But who is Peter Lim? Lim’s fortune didn’t just fall into his lap. He didn’t inherit a family business nor did he win in Singapore’s casinos. His parents owned a modest fish market, and Lim worked as a waiter and chef during his time at university. After starting as a stockbroker for Indonesian clients, he made a series of calculated investments which brought him to his current position. We can only hope, which is what the Valencian fans are doing, that with investments by the sports lover and millionaire from Singapore, the club will rise from the ashes and return to its former glory that seems to have been forgotten over the years.