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American bidder threatens Lim’s takeover of Valencia

by Tom Conn | Posted on Wednesday, January 15th, 2014

Wednesday marked the final day that Spanish bank, Bankia would accept bids for the financial takeover of Spanish club Valencia and while Singaporean buisnessman, Peter Lim was poised to take over the club, reports from Spain suggest that an unnamed American bidder has presented a better offer.

Peter Lim

Lim had presented an offer to Bankia, who hold the loans and subsequent debts of Valencia CF, on a deal that would see Lim absorb the debts and infuse the club with income necessary for the once great club to rise back to the top of La Liga.

Everything appeared to be going to plan as news would occasionally pop up that there were other bids, but nothing that could rival Lim’s offer.

The two sides agreed on a date of 15th January to close the bidding, where from that point Lim and Bankia would workout the final details and make him the primary investor.

However, according to Spanish radio station, Cadena SER Valencia, an unnamed American bidder had reportedly submitted a better offer than Lim’s at the final hour, which could deny Lim’s purchase of a football club for the third time, after failing in bids to take over Liverpool and Atletico Madrid.

The report goes on to say that Bankia is expected to make an announcement within the next several hours or even tomorrow morning.

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