The last 10 years have proven turbulent for Valencia. Financial debts of up to €400m forcing their star assets to be sold, players going unpaid for weeks and a series of troubles in constructing the Nou Mestalla. But it was local government taking over the club in January 2013, after defaulting on their interest repayments, which sums up their fall from grace.
The last 12 months have been no different. In August 2013 Los Che were forced to sell their top striker Roberto Soldado to Tottenham Hotspur after the north London club activated his €30m buyout clause. It was a blow, as the striker had scored 30 goals overall during the 2012-13 season, 24 in La Liga with Valencia finishing fifth.
Last season started badly under the ill-fated stewardship of Miroslav Djukic, before being sacked in December 2013, with his replacement Juan Antonio Pizzi able to steady the ship by finishing in eighth place and reach the Europa League semi-finals.
But in the last weeks of a disruptive season a potential lifeline arrived in the form of Singaporean businessman Peter Lim. After long negotiations it was announced on the May 17 that Lim had taken over Valencia – acquiring 70.4 per cent of shares held by the Valencia Foundation. Needless to say his acquisition of Los Che was well-received in Valencia.
“Peter Lim is being called the 'saviour of Valencia' here in Spain. He has hefty money that will unequivocally benefit the club,” freelance football journalist Sergi Dominguez explained.
“He promised to invest in transfers and wipe-off all debts, something previous President Amadeo Salvador wasn't capable of doing,”
Lim certainly has the capability of achieving that promise, as he is one of Singapore’s richest citizens, with an estimated net worth of €1.2 billion. The acquisition of Valencia by a man of such riches is important – especially when analysing his vision.
“He has a great sporting project,” Dominguez adds. “His continuation in this sporting project could see the club returning to the elite of La Liga. Most importantly, he didn't take over as the President of the club, yet is finalizing deals with players. This shows his determination to ameliorate the club.”
The signings so far have certainly excited the fans. Recently the announcement came of Benfica striker Rodrigo joining on a season long loan. He will be seen as heir to Roberto Soldado, as well as being a step up from the strikers Los Che had last season, Helder Postiga and Eduardo Vargas.
Moreover, growing rumours that Valencia are to sign River Plate defender Eder Alvarez Balanta, show their intent for the upcoming season. The Colombian centre back would be an excellent replacement for Adil Rami and Jeremy Mathieu. Lim has also stamped his authority by sacking Pizzi and replacing him with Nuno Espinto Santo – whose coaching credentials are two years at Portuguese club Rio Ave.
Real hope has arrived after the darkness of the last ten years.Veteran supporters of Los Che will hope they can replicate the days of Rafa Benitez and Hector Cuper. This was a glorious period when Valencia blazed through Europe’s premier competitions while on the domestic stage broke the duopoly of Barcelona and Real Madrid.
However, that was over a decade ago. The real question is whether under Peter Lim can they do it again?
