Valencia CF
- Thread starter Sean_RedDevil
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Billions? He's worth 1.6 billion dollars according to wiki.
This went public just before Christmas.
The Valencia fans I know with shares in the development fund have already voted for it.
We're now waiting expectantly for Bankia to agree that he's the best chance they've got of seeing any money. The 15th Jan deadline has been mentioned because the bank said it would take "several weeks" to review the viability of the plan so I'm guessing it's not as simple as him handing over 500m Euros in a suitcase.
Mendes apparently brokered the deal.
The Valencia fans I know with shares in the development fund have already voted for it.
We're now waiting expectantly for Bankia to agree that he's the best chance they've got of seeing any money. The 15th Jan deadline has been mentioned because the bank said it would take "several weeks" to review the viability of the plan so I'm guessing it's not as simple as him handing over 500m Euros in a suitcase.
Mendes apparently brokered the deal.
So what you're saying is we're signing Valencia CF since Mendes is involved?
Do they have any central midfielders?
Decided to have a rest from the United forum for a little while 
but still in the mood for gossip, so - a little more about Peter Lim.
Lim is one of the investors in the Mendes/Kenyon fund that owns/part owns players like Falcao, Kondogbia, Oliver Torres and several more, mostly based in Portugal, Spain or South America. He's made quite a lot of money in it and enjoys this football business lark.
He's been particularly interested in clubs with stadium projects to fund. He talked to Liverpool for a while, but couldn't find a way to take over the club, build the stadium and still make money. For the past year, he's been discussing various deals with Atletico but again he couldn't quite get a viable business (under his control) out of it - so instead he and the Mendes group are just involved in some loan deals, player part-ownership schemes and general financial wizardry with them.
Then came Valencia and Valencia's new board. A board desperate to save the club from financial ruin, complete the new stadium (that they've been warned will start to deteriorate unless it's completed) and to have a "successful sporting project". Bingo. Maybe. He can afford to become majority shareholder. He liikes the management. He can cover the debts and the stadium build.
The board incidentally have demostrated their business saviness by finding a way to reduce the cost of finishing the new stadium. Making it a much simpler project to fund.
Plus, he can see how a lovely Mediterranean city like Valencia - the site of Grand Prix races and The Americas Cup - could afford a club that's not just viable in a football sense but might appreciate the finer things in life.
He's given Bankia, the club's principal creditors and the de-facto financial management (they're acting like the receivers do in English bankruptcy cases) of the club, until the 15th to agree the deal. On first glance, they should bite his hand off (and have it gold plated) but I'm sure it's a bit more complicated than that.
but still in the mood for gossip, so - a little more about Peter Lim.Lim is one of the investors in the Mendes/Kenyon fund that owns/part owns players like Falcao, Kondogbia, Oliver Torres and several more, mostly based in Portugal, Spain or South America. He's made quite a lot of money in it and enjoys this football business lark.
He's been particularly interested in clubs with stadium projects to fund. He talked to Liverpool for a while, but couldn't find a way to take over the club, build the stadium and still make money. For the past year, he's been discussing various deals with Atletico but again he couldn't quite get a viable business (under his control) out of it - so instead he and the Mendes group are just involved in some loan deals, player part-ownership schemes and general financial wizardry with them.
Then came Valencia and Valencia's new board. A board desperate to save the club from financial ruin, complete the new stadium (that they've been warned will start to deteriorate unless it's completed) and to have a "successful sporting project". Bingo. Maybe. He can afford to become majority shareholder. He liikes the management. He can cover the debts and the stadium build.
The board incidentally have demostrated their business saviness by finding a way to reduce the cost of finishing the new stadium. Making it a much simpler project to fund.
Plus, he can see how a lovely Mediterranean city like Valencia - the site of Grand Prix races and The Americas Cup - could afford a club that's not just viable in a football sense but might appreciate the finer things in life.
He's given Bankia, the club's principal creditors and the de-facto financial management (they're acting like the receivers do in English bankruptcy cases) of the club, until the 15th to agree the deal. On first glance, they should bite his hand off (and have it gold plated) but I'm sure it's a bit more complicated than that.
Lim at the Ballon D'Or show. That's Ronaldo's mum he's stood next to
So tomorrow is the 15th and that was Lim's decision day.
Bankia have (sort of) responded to the deadline by saying 2pm tomorrow is the deadline for offers for the club. Though, maybe technically speaking he's making an offer for the club's debt. They say they already have Lim's and "two other offers" on the table.
The Valencian local government have asked them to consider the club's "sporting project" as a factor in the calculation. More significant perhaps is that if it doesn't get resolved soon the club may end up going down the insolvency route - in which case not much debt will get paid at all, nor will there be a lot of sport.
Lim's supposed to be at the Atletico Valencia match tonight and may have spent the day chatting to some Bankia execs.
So tomorrow is the 15th and that was Lim's decision day.
Bankia have (sort of) responded to the deadline by saying 2pm tomorrow is the deadline for offers for the club. Though, maybe technically speaking he's making an offer for the club's debt. They say they already have Lim's and "two other offers" on the table.
The Valencian local government have asked them to consider the club's "sporting project" as a factor in the calculation. More significant perhaps is that if it doesn't get resolved soon the club may end up going down the insolvency route - in which case not much debt will get paid at all, nor will there be a lot of sport.
Lim's supposed to be at the Atletico Valencia match tonight and may have spent the day chatting to some Bankia execs.
Aslong as we get Banega in return. How rich is this guy? Sounds Randy laurner rich to me.
Falcao, Nani and Lim. What a front 3
Peter Lim. Where have I heard that name before? Did he try to buy/previously own an English club?
Just looked, it was Liverpool.
Yes, he's looked at Liverpool and Atletico among others. He's actually a football businessman and runs a very successful footballer third party ownership business with Mendes and Kenyon. He's looked at clubs with a strong fanbase, a stadium to build, debt/unwilling owners and he wants to have money left over to fund the team. Quite possibly an incubator/showcase team for those players he part owns etc.
It's believed (by the Valencia press) that the deal he's asking Bankia to accept buys all of the club's debt (bank debt and the Valencia foundation's, a supporter funded debt) and that he'll pay something over 200m for about 340m debt - leaving himself with the club, money to complete the stadium and a January player budget.
Normally, in commercial terms, offering that kind of deal for an insolvent business would lead to the bank locking you in their vault with a solid gold pen until you sign the forms. However as Bankia is under (EU!) taxpaper scrutiny and football in Spain is under (EU!) scrutiny there's always the danger the deal might get scrutinised out of existence.
Hence Bankia and KPMG saying they're reviewing several offers and formally announcing an offer deadline (today at 2pm).
Every Valencia fan I know has got fingers, toes and other body parts crossed. Selling out to a Sugar Daddy? Beggars can't be choosers.
It's believed (by the Valencia press) that the deal he's asking Bankia to accept buys all of the club's debt (bank debt and the Valencia foundation's, a supporter funded debt) and that he'll pay something over 200m for about 340m debt - leaving himself with the club, money to complete the stadium and a January player budget.
Normally, in commercial terms, offering that kind of deal for an insolvent business would lead to the bank locking you in their vault with a solid gold pen until you sign the forms. However as Bankia is under (EU!) taxpaper scrutiny and football in Spain is under (EU!) scrutiny there's always the danger the deal might get scrutinised out of existence.
Hence Bankia and KPMG saying they're reviewing several offers and formally announcing an offer deadline (today at 2pm).
Every Valencia fan I know has got fingers, toes and other body parts crossed. Selling out to a Sugar Daddy? Beggars can't be choosers.
So the 2pm deadline came and went and it looks like Bankia have three offers:
Peter Lim's, backed by the new Valencia board - the only one that we really know anything about.
A "London investment group" - acting for a Qatari group (QIA)
The US based Texas Pacific Group who specialise in leveraged buyouts (groan) and acquisition through debt purchase (ouch)
Bankia are now charged with identifying the best deal for Bankia, and the Valencia local government who accidentally ended up as guarantors on one of the loans.
Incidentally though financially, bankruptcy would probably be the best option, the club would like to avoid it. For sporting reasons (like European football), contractual (sponsorship deals and even some player contracts would probably end) and for moral ones - the fan/shareholder group the Valencia Foundation actually feel guilty about lumbering the Valencian community with 90m Euros of club debt.
Peter Lim's, backed by the new Valencia board - the only one that we really know anything about.
A "London investment group" - acting for a Qatari group (QIA)
The US based Texas Pacific Group who specialise in leveraged buyouts (groan) and acquisition through debt purchase (ouch)
Bankia are now charged with identifying the best deal for Bankia, and the Valencia local government who accidentally ended up as guarantors on one of the loans.
Incidentally though financially, bankruptcy would probably be the best option, the club would like to avoid it. For sporting reasons (like European football), contractual (sponsorship deals and even some player contracts would probably end) and for moral ones - the fan/shareholder group the Valencia Foundation actually feel guilty about lumbering the Valencian community with 90m Euros of club debt.
Caveat emptor when getting involved with Mendes
Press reports today are saying that the Peter Lim proposal has not got through the vetting process. They say Bankia does have one or more proposals to go into the next round of discussion and review and that they hope to report again in a month or so.
So, no more new toys for Valencia this month then.
So, no more new toys for Valencia this month then.
So this Lim guy is behind the 3rd party company (Meriton Capital Limited) that bought Rodrigo and Andre Gomez from Benfica. Thats 30 million euros for Rodrigo and 15 million for Gomez. I guess these two will go to play for Valencia when he takes control
This whole thing is a mess!
Bankia have rejected the Lim bid in favour of two other "investment groups" - one US based, the other London based group using Qatari money. So if Lim does take over it's going to be the result of some new deal after the shares/debts have been transferred. Valencia's board are still arguing that the Lim offer was the best one, but I suspect all that really means is more months of uncertainty.
The club President was suggesting that it would be possible for the club/supporter foundation to sell its shares to Lim without Bankia's approval. While technically that may be true, it's also possible that Bankia could put the club into (insolvency) administration if they try it.
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I don't expect big things to happen from this. I doubt if Bankia has Valencia's best interest at heart, they are a financial institution first and foremost. Salvo backs Lim but is it because his job is safe? And why isn't Bankia being transparent. There's always a danger of a screwjob around the corner. At best an offer is chosen, the debt is taken care of and hopefully the stadium and that is always enough and that is what all Valencia fans want, nothing more. Deadlines upon deadline jesus get this over with already.
Everytime I see this thread I think it's going to be about moving our worst winger to centre-forward...
No news is almost news.
Bankia have not found a deal in which they and the other creditors get all their money back. They are seemingly under too much scrutiny to make a deal which involves selling the debt cheaply - though 50%, which it's believed has been offered, isn't by commercial standards particularly cheap for the debts of an insolvent company.
Instead they have announced that they are willing to refinance the club if a viable "sporting and financial" project can be found. That appears to mean (more or less) that they'll allow the loans to be transferred to whoever takes over Valencia by buying out the Fundacion VCF the supporter led group that own most of the shares.
Identifying the preferred project will now be a joint venture by Bankia, the Fundacion, the club and the Valencia local government (who are simultaneously creditors, part owners and loan guarantors). What that EU enquiry into Spanish club funding will make of this is anyone's guess.
So what will happen now? Maybe nothing for at least two more months, which will probably make the summer transfer window complicated. Then we'll see if anyone is actually willing to take on the debt, the new stadium build and the reconstruction of the squad. Not a lot to ask
My first instinct says it means nothing will change except the threat of immediate bankruptcy will be lifted and a new loan payment schedule agreed. Unless of course Peter Lim or whoever is even keener/richer than we thought. We shall see.
Bankia have not found a deal in which they and the other creditors get all their money back. They are seemingly under too much scrutiny to make a deal which involves selling the debt cheaply - though 50%, which it's believed has been offered, isn't by commercial standards particularly cheap for the debts of an insolvent company.
Instead they have announced that they are willing to refinance the club if a viable "sporting and financial" project can be found. That appears to mean (more or less) that they'll allow the loans to be transferred to whoever takes over Valencia by buying out the Fundacion VCF the supporter led group that own most of the shares.
Identifying the preferred project will now be a joint venture by Bankia, the Fundacion, the club and the Valencia local government (who are simultaneously creditors, part owners and loan guarantors). What that EU enquiry into Spanish club funding will make of this is anyone's guess.
So what will happen now? Maybe nothing for at least two more months, which will probably make the summer transfer window complicated. Then we'll see if anyone is actually willing to take on the debt, the new stadium build and the reconstruction of the squad. Not a lot to ask
My first instinct says it means nothing will change except the threat of immediate bankruptcy will be lifted and a new loan payment schedule agreed. Unless of course Peter Lim or whoever is even keener/richer than we thought. We shall see.
So after Bankia's bold statements about "refinancing" rather than selling the club, Peter Lim has been announced as its new majority shareholders. Incidentally Bankia said that the review would take two months - here we are two months later.
The Fundacion (the fan/creditor/investor group that owned most of the club's assets) voted unanimously to sell to Peter Lim and it was announced at a press conference today.
The full details won't be released officially until next week, at a meeting for club members. However it's believed that the deal covers completion of the new stadium and new investment in the football team. The details of the deal over the debts, the loans and the investment in the team aren't public yet.
Though I bet they will be soon
The Fundacion (the fan/creditor/investor group that owned most of the club's assets) voted unanimously to sell to Peter Lim and it was announced at a press conference today.
The full details won't be released officially until next week, at a meeting for club members. However it's believed that the deal covers completion of the new stadium and new investment in the football team. The details of the deal over the debts, the loans and the investment in the team aren't public yet.
Though I bet they will be soon
So as I mentioned before, Lim's company bought Rodrigo and Andre Gomes so they must be at Valencia next season now he's taken over. Thats a good start
I bet Valência fans must be anxious to see André Gomes
. That's pretty good.I bet Valência fans must be anxious to see André Gomes
Oh no he didnt play well in the final of the europa league at 20 years old, he should retire
How can he possibly live up to the standards set by signing Phillipe Senderos
I´m just messing with you mate. It´s just a bit of rivalry due to me being a Sporting fan. I´m not too keen on André Gomes (and most of the Benfica fans i know aren´t either) but who knows perhaps he can become a decent player in the future.
Yes, he's not just a boring old millionaire. More significant than his personal wealth is his track record with that group of football investors (aka "third party owners") led by Mendes. They're not only bankrolling a chunk of the Spanish and Portuguese leagues (including Atletico and Sevilla) they're making a profit on it.
Lim fancied have a complete project, a team, a real fanbase, a stadium development, even an eager city to play with - Valencia's a good match for him.
They might even be able to keep Bernat, or at least fatten him up for a much juicier transfer fee in a couple of years time.
Maybe who knows. You obviously have a point regardless, but I'm not surprised Benfica fans dont rate him too highly when they're selling him off before he even does much for the first team. Of course they're going to be negative and predict that he won't be very good because that suits them. They dont want to regret it. With Rodrigo, because he's done plenty for the first team (partly due to being significantly older than Gomes) they cant deny that losing him will be a bad thing.
I just think its different when we talk about Valencia and United. For United? We can probably aim higher, its just we aim so low with central midfielders for some reason.
For Valencia though? Dani Parejo is their best CM at the moment and probably player of the season overall and he was absolutely useless in his first season at Valencia. I'm sure Gomes is ready to do a bit better than that.
Fair points all round. Benfica fans are known for their emotional "roller coasters". André Gomes was never rated by most of their fans tbf but of course they will never admit they will miss him now that he is leaving. André Gomes gets alot of attention and good press due to his Mendes link. Even so he deserves some praise because it´s not easy to get in a Benfica team that has no real tradition of promoting youth prospects and prefers to buy serbian or argentinian players. I don´t know much about Valência´s team so i´ll take your word about him potencially being useful for them.
Rodrigo had a very good season and was one of main Benfica players in this campaign. I consider him a very good purchase for Valência.
Looks like they've sacked Pizzi.
I think they are signing former Rio Ave manager Nuno Espírito Santo (former Fc Porto goalkeeper) who has close ties with Jorge Mendes. It´s a risky bet since he only managed Rio Ave and lacks the experience at top level but with Mendes influence you never know. Personally i´d never appoint him.
That's a strange one that. Suppose he'll be more of a Lim/Mendes puppet than an actual manager though so it makes sense from a Mendes perspective.
Anyway, could see these lot spend a bit of money this summer with the Mendes influence now. Been linked with loads of players and seems as if Jackson Martinez could be off there, will be interesting to see how they do next season if they do spend a bit.
edit/ According to ZeroZero (Portuguese site), Rodrigo & Andre Gomes of Benfica won't show up to training tomorrow and have left the club. They've been linked with Valencia for a while, think they could be two new additions for them soon. They were bought by a third party investment fund which is owned by Peter Lim so it's pretty much a cert.
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Shocking, tbh. Pizzi was fantastic for Los Che.
Ebwelle signed on a free from Barcelona B to Valencia's B team, a livewire left sided winger - a lot of potential
Nice new kits by adidas for this season. No sponsor name - liking that a lot although I doubt the club are.
I'll be there in a week or so and will be looking to pick up the away shirt.
I'll be there in a week or so and will be looking to pick up the away shirt.
Signed German full back Mustafi this week btw.
The home kit is lovely.