ANDl former president of Valencia, Miguel Zorio, has ensured that you have a serious offer to buy of most of the Peter Lim shares and a viable project for finish the stadium. The leader of Valencianist tide, one of Lim’s opposition platforms has outlined a plan for the club bought back the majority shareholding the Singaporean magnate and finish the New Mestalla, an operation thate quantified at 368 million euros and for which, according to assures, account withn financing through a bank and a construction company foreigners whose names he did not reveal
At a press conference held at the new headquarters of the Peñas Association -after the exile of Mestalla- Zorío pointed out that it would be Valencia himself who would buy the shares for resell them later to their fans and thus reduce the debt that would be incurred, although he admitted that for the treasury stock limits those stakes could deposit in a company -of his property- that would control the club.
He said that in the event that the followers were not sold all those shares could be distributed “With models that other clubs have used.” He also confirmed that he he would be the president of the club at least for the duration of the operation.
The former vice president at the time of Vicente Soriano -2008-09 season- detailed the operation in the following figures: 194 million euros would be paid to Lim “cash” for your actions, more others 54 million of loans what he has done to the club. The 120 million remaining (up to the figure of 368) would be allocated to finish the stadium, for which he gave a term of completion of the works of three years.
Zorío made it clear that it is a closed proposal: “It is not a negotiable offer, it is the maximum that the club can support”, adding that the financing would have a term of between 20 and 30 years with an interest of less than 3%, and did not specify how this loan would be guaranteed. “Valencia endorses with its business project. The guarantees they ask for are project guarantees “said Zorío, who said that this agreement was closed in April but that he has not presented the offer until he has “a solution for the old Mestalla plot,” another key in the process.
Zorío acknowledged that with this plan he is limited to “copy the Atlético de Madrid model to get out of the crisis “and said that in addition to the lawyer Pablo Delgado and the businessman Vicente Roig, he could not have designed the plan without the help of Miguel Ángel Gil, CEO of the Madrid club.
“Now the ball is in Lim’s courtIf you accept it, you have to sign it and from there there is five months of exclusivity, you cannot auction the club. I have 30 days to deposit the guarantees in a bank and he will see the money, but he will not be able to touch it because I will have three months to make one. Due Diligence (audit prior to a purchase) of Valencia. Is essential What happens to Laporta at Barça does not happen to us. Then there is a month to close it, “he explained.
Zorío explained that last week deposited in the notary with which the club works an offer in firm (LOI) and that he also had it hand delivered to Lim in Singapore, through an acquaintance close to the Valencia’s largest shareholder. In fact, the economist pointed out that has never spoken with Lim, although he assured that he has maintained some contacts in recent years through an entrepreneur “which is above him on the FORBES list ” and assured that it has been transmitted to him that Lim sees the operation “with good eyes”.
“Theeconomic situation of the club is going to deteriorate “predicted Zorío, who recalled that the money that may come from the League’s agreement with the CVC fund “is debt.”
“Yes Lim does not want to sell, he will have to put the money and if that serves to put it and finish the stadium … The only thing we want is for Valencia to have life, “said Zorío, who said that in no case would he buy the club, but that the Valencians would.
Zorío sent a final message on how to manage the sale of Valencia shares “We are not going to take out Lim with their heads, it will help Mestalla to speak, but we have to sit down with him to pay him the money he says he has put in and for him to leave quietly because if we don’t we run the risk that the club will disappear “.
