Singapore-based billionaire Peter Lim has been confirmed as the new owner of Valencia.
The 60-year-old businessman has been revealed as the new owner of Los Che this afternoon, after 22 trustees voted unanimously in his favour.
Lim has purchased 70 per cent of the Mestalla outfit, meaning he is now the majority shareholder at the club.
Valencia have been financial turmoil for some time, but Lim has opted to invest in favour of other sporting opportunities, having been linked with Milan and Liverpool in the past.
The Forbes Rich List tycoon is currently in negotiations with creditors Bankia about clearing the side's debt, and is then likely to invest in new players over the summer.
There has however, been no official comment from Valencia or Lim at this time.