Published on May 18, 2014
Straits Times
Billionaire Peter Lim is the new owner of Spanish side Valencia. Here are some facts about the media-shy Singaporean and the La Liga club.
Five things you should know about Peter Lim
1. In 1991, Mr Lim made his fortune when he invested US$10 million (S$12.51 million) in Wilmar International, then a start-up palm oil company owned by tycoon Kuok Khoon Hong, a former client and friend of Mr Lim’s – and the nephew of Malaysian businessman Robert Kuok (he now lives in Hong Kong), one of Asia’s best-known billionaires. Mr Lim’s five per cent stake in Wilmar was worth US$1.4 billion in March according to Forbes.
2. He put himself through the University of Western Australia, in Perth, by working as a taxi driver, cook and waiter, among other odd jobs, and graduated with a degree in finance and accounting.
3.Nicknamed the “remisier king", Mr Lim was ranked by Forbes to be the 10th richest man in Singapore last year with a fortune of US$2.05 billion.
4. Married to former actress Cherie Lim, Mr Lim is a Manchester United fan, owning several Manchester United themed bars across Asia. He tried to buy Liverpool for £300 million (S$631.20 billion) in 2010 but his offer was rejected.
5. Home to Valencia's new owner is the entire 11 storeys of the Abelia condominium, located near Orchard Road. Mr Lim is also said to own 25 Ferrari cars.
Five things you should know about Valencia football club
1. Up until Mr Lim acquired the club, Valencia was the only club outside the duo of Real Madrid and Barcelona to have won the Spanish La Liga since 2001. Former Liverpool manager Rafa Benitez led Valencia to the league title in 2002 and 2004. However, Atletico Madrid on Saturday claimed its first La Liga title in 18 years by drawing 1-1 with title rivals Barcelona.
2. Due to the financial crisis, work on Valencia's new stadium – the 61,500 Nou Mestalla – stopped in 2009. The stadium has remained untouched since.
3. To stay afloat, the club had to sell key players like David Villa, David Silva, Jordi Alba, Roberto Soldado and Juan Mata - All Spanish internationals.
4. Valencia have only spent four years outside of the top flight during their 92 history. Most recently they spent a year in the second division in the 1986-87 season.
5. They are the third most successful club in Spain, with six La Liga titles and seven Spanish Copa del Rey victories. No prizes guessing who the two most successful are.
Sunday, May 18, 2014
Saturday, May 17, 2014
Singapore businessman Peter Lim buys Valencia
Published on May 17, 2014
Fans of Valencian Football Club can finally see an end to months of uncertainty: Peter Lim
BARCELONA – Singapore businessman Peter Lim is the new owner of debt-ridden Valencia after buying 70.4 per cent of the shares owned by the club’s foundation, the La Liga side said today (May 17).
The Valencia Foundation’s patrons voted for Lim’s proposal ahead of other offers from international consortiums offering large cash injections.
Confirming that Lim has completed the takeover, a club spokesman said that the next task for the new owner will be to agree a deal with creditors Bankia, who are owed €220 million (S$377 million). The club’s total debt is around €360 million.
Lim said in a statement: “I am very glad to have been selected the winning bidder after a rigorous selection process. Fans of Valencian Football Club can finally see an end to months of uncertainty."
Lim was the choice of club president Amadeo Salvador who felt that his offer was best suited to turning around the fortunes of the club which failed to qualify for next season’s Champions League and were knocked out of the Europa League earlier this month by eventual winners Sevilla in the semi-finals.
Said Lim: "Today’s voting which overwhelmingly supported my bid demonstrates a firm commitment from the stakeholders of the process, namely Bankia, Valencia CF, Foundation of Valencia CF and Instituto Valenciano de Finanzas.
“Under the process, the winner is the bidder with the best sporting, financial and social solutions. I’m pleased that we have won on these three criteria and I'll like to thank the Board of Trustees, the Valencian fans and the city for their strong support over the past few months."
Valencia are 10th in the 20-team La Liga standings. AGENCIES
Fans of Valencian Football Club can finally see an end to months of uncertainty: Peter Lim
BARCELONA – Singapore businessman Peter Lim is the new owner of debt-ridden Valencia after buying 70.4 per cent of the shares owned by the club’s foundation, the La Liga side said today (May 17).
The Valencia Foundation’s patrons voted for Lim’s proposal ahead of other offers from international consortiums offering large cash injections.
Confirming that Lim has completed the takeover, a club spokesman said that the next task for the new owner will be to agree a deal with creditors Bankia, who are owed €220 million (S$377 million). The club’s total debt is around €360 million.
Lim said in a statement: “I am very glad to have been selected the winning bidder after a rigorous selection process. Fans of Valencian Football Club can finally see an end to months of uncertainty."
Lim was the choice of club president Amadeo Salvador who felt that his offer was best suited to turning around the fortunes of the club which failed to qualify for next season’s Champions League and were knocked out of the Europa League earlier this month by eventual winners Sevilla in the semi-finals.
Said Lim: "Today’s voting which overwhelmingly supported my bid demonstrates a firm commitment from the stakeholders of the process, namely Bankia, Valencia CF, Foundation of Valencia CF and Instituto Valenciano de Finanzas.
“Under the process, the winner is the bidder with the best sporting, financial and social solutions. I’m pleased that we have won on these three criteria and I'll like to thank the Board of Trustees, the Valencian fans and the city for their strong support over the past few months."
Valencia are 10th in the 20-team La Liga standings. AGENCIES
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