Peter Lim’s Valencia bid under threat

The Singapore billionaire faces competition from other organisations who have placed last-minute bids to buy the debt-stricken club, raising the possibility of a bidding war
In what is turning out to be a soap opera on the sale of debt stricken Spanish club Valencia, Singapore billionaire Peter Lim’s bid for the club is under threat after it was revealed that the club has received “multiple” offers from other organisations.

The rumoured bidders are reported to be huge companies such as Abu Dhabi's Mubadala, Qatari Investment Authority and the American investment fund TPG, with the latter’s offer said to be the most appealing so far.

It is believed that those last-minute bids were made just before the January 15 deadline set for all interested parties. Valencia’s creditor, Spanish banking conglomerate Bankia, will likely make an announcement regarding the bid soon.

As such, Lim, a Manchester United supporter, will face the possibility of being confronted with a bidding war if he remains interested in buying the club.

It was only less than a month ago that Valencia president Amadeo Salvo expressed his keenness for Lim’s offer to be accepted by the club’s financiers, with the money provided wiping the club’s debt and enabling the completion of the construction of their new stadium.

The 60-year-old recently also upped the ante by promising Valencia a €50 million (SGD$87m) war chest to sign new players in the transfer window.

Lim, who has a net worth of US$2.05 billion (SGD$2.5bn) according to Forbes, has failed in previous attempts to purchase Liverpool and Atletico Madrid.