Ex-Valencia FC president eyeing cut-price takeover bid for La Liga club


The former FC Valencia president is planning a takeover bid for the La Liga club at a discount. Image: Valencia FC

The former FC Valencia president is planning a takeover bid for the La Liga club at a discount.

Former vice-president Miguel Zorío would have the “first refusal” in case Peter Lim wants to sell the Ché team.

FORMER Valencia FC vice-president Miguel Zorío has unveiled his latest takeover bid for the La Liga club at a significantly reduced price. Chelsea’s Russian owner Roman Abramovich is also believed to be in the running to buy the Spanish side from current owner Peter Lim.

In a press conference on Wednesday, April 27, Zorío revealed his offer of €212 million, €36 million less than the last bid presented, which he said was “due to the losses incurred by the club in the last financial year”. year.”

Zorío declared in September 2021 that he was ready to present an offer worth €368 million buy Lim’s shares and complete the works of the new stadium in Avenida de Cortes Valencianas. However, during the April 27 press conference, he revealed that any new offer will now continue to decline as long as Lim continues to refuse his proposals.

Zorío predicted that the club would start to struggle more financially this summer. “In June there will be a disaster within the club as Valencia CF is unable to generate enough revenue to close its year in profit,” he said.

He added: “Peter Lim tried to get €450m for Valencia CF through an office in London, but no one is going to pay that for the club.”

Zorío also said his bid would include building the new stadium over the next three years.

FC Valencia notified the Generalitat Valenciana at the end of 2021 that it would allocate “the majority” of the funds it would receive following the agreement between LaLiga and the CVC Capital Partners fund to resume work on its new stadium, which will stopped for more than ten years. The Ché team can allocate up to 80 million euros to carry out infrastructure works.

First refusal

“The fundamental thing is the right of first refusal, it’s not important for Lim to come out and say it’s not for sale,” he said.

Referring to the first refusal clause for small shareholders, Zorío said: “The only thing that Amadeo (Salvo) and Aurelio (Martínez) did well and they did it without realizing it because otherwise, they wouldn’t have done it.

“We have a fortnight and that’s what will force them to go through here,” continued Zorío.

“When you have a firm offer, you have to present it at a meeting and if it is matched, it stays here. They put that clause in and they did it thinking nobody would be able to put together a bid because that can only be achieved if you worked on it,” he added.

“The fact, if he doesn’t want to sell, nobody can force him, but Valencia will lose around seventy million this year and a similar figure next year,” he said.

“The party is going to cost him 50 million every year. He cannot build the stadium as he wanted and this panorama will take three years. So he has to decide between putting in 150 million or collecting 212,” he explained.

“I don’t know anyone who likes to lose fifty million a year, no matter how lucky they are,” he said.

He added: “It is very likely that they will consider it this summer. With an expired ATE, without being able to do business with the old Mestalla, without being able to do business with players because it is a team of rented players and with a stadium where they tell him everything.

“If it is something he is not stupid so he will choose to sell and if he does the important thing is that we are prepared,” he concluded.

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