The crisis in Valencia entered a new chapter on Thursday. After the shareholders’ meeting was canceled by the club board after twelve minutes of continuous booing, club president Lay Hoon Chan has indicated that he has no intention of selling the club. Peter Lim is willing to listen to potentially interesting offers.
The president also indicates that Lim is in no hurry to sell the club and that he is still focused on bringing back success to Valencia: ‘Lim supports us, has extended his loan to the club and the Peter I know, does not sell its properties cheaply.’
This is much to the disappointment of the fans, who have been hoping for a new owner of their favorite club for several years. The supporters mainly blame Lim for draining the club financially and for not providing adequate replacements for star players who left for many millions of dollars. Now that the club is firmly at the bottom of La Liga, the end of the crisis that has been going on for years is still not in sight.
Until five years ago, the famous Valencia was a club that regularly played in European tournaments. In the 2019/20 season, the club played in the Champions League, where it was paired with Ajax in the group stage. In that group, the Spaniards finished as group winners, before being eliminated by Atalanta in the second round over two games.
Things have gone downhill rapidly since then, with the current last place in La Liga as the provisional low point. Last season, the club also fought against relegation for a long time, but Valencia eventually finished in ninth place.
Lim (71) is one of the richest men in Singapore and bought Valencia in 2014. Since then, not only has the club’s reputation waned, but his own reputation has also rapidly lost popularity. His ownership has been the subject of fan protests for years.
Stand LaLiga 2024/2025
Spain
17
Alaves
17
4
4
9
19-28
-9
16
18
Espanyol
17
4
3
10
16-29
-13
15
19
Real Valladolid
17
3
3
11
12-34
-22
12
20
Valencia
16
2
5
9
14-24
-10
11
* Current until December 19. 2024
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