The Canadian Press - ONLINE EDITION
Valencia says Singapore businessman Peter Lim wants to buy indebted Spanish club
VALENCIA, Spain - Valencia president Amadeo Salvo said Sunday that Singapore businessman Peter Lim was interested in buying the financially troubled club.
Salvo told Spanish media that "Peter Lim's offer is amazing."
Salvo said Lim's offer includes paying off Valencia's debt and money to spend on new players.
Lim placed a deadline of Jan. 15 for the club and its creditors to decide, Salvo said.
"The club has to sell for a price between 200 and 250 million euros," said Salvo. "The new investor has to eliminate the debt we have with the bank, invest in players, promise to finish the new stadium and to let the club be run by the people of Valencia. Lim's offer meets all these requirements."
The 60-year-old Lim has a net worth of $2.05 billion, according to Forbes.
Valencia is one of seven Spanish clubs being investigated by the European Union for allegedly receiving illegal public aid.
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