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When Peter Lim arrived as Valencia’s new owner back in October 2014, he was greeted positively by fans who had high hopes for the Singaporean businessman to rescue their club from a perilous financial position caused by years of over-ambitious spending.
Fans were optimistic that Lim’s takeover, through his Hong Kong-based Meriton Holdings company, would propel Valencia back to the summit of European football and back to the lofty heights they occupied at the turn of the century with consecutive Champions League final appearances in 2000 and 2001, and two La Liga titles in 2002, and 2004.
But the initial goodwill towards Lim soon started to dissipate following a series of strange managerial appointments and a close relationship with super-agent, Jorge Mendes.
Valencia-based journalist, Paco Polit was clear about why the tide started to turn against Lim, who also co-owns English League Two club Salford City alongside a group of former Manchester United players including his most unsuccessful coaching appointment, Gary Neville.
“The change in attitude towards Lim started in the summer of 2015,” Polit told.
“Having been his biggest advocate and helping him buy the club for peanuts, president Amadeo Salvo left after a power struggle with Jorge Mendes and [then-manager and Mendes client] Nuno Espirito Santo. The subsequent cascade of mistakes seriously damaged Lim’s public image.”
Any lingering feelings of support towards Lim among Valencia fans were destroyed for good in 2019.
The team won the Copa del Rey, defeating Barcelona in a thrilling final, and finished fourth in La Liga but Lim reacted by parting company with manager Marcelino and director of football Mateu Alemany following disagreements over transfer policy.
“That was crucial towards the perception that Lim doesn’t really care about the club’s fate,” says Polit. “Especially when you also consider his open conflict with the Valencian government and city hall, no investment in signings, repeatedly selling the team’s best players for relatively low fees, a careless attitude towards the club’s history, disrespecting the fans… the list could go on and on.”
The managerial revolving door has continued to spin since Marcelino’s departure, with his successors Javi Gracia, Albert Celades and Jose Bordalas all heading out after one season.
The latest hapless incumbent was Gennaro Gattuso, who made a bright start to the new campaign but departed last week after just half a season in charge, following a dip in results and reported disagreements with Lim over the failure to sign any players in the January transfer window.
So now, long-serving coach Voro is again managing the team on a caretaker basis for the eighth time while Lim searches for a 10th permanent manager in less than nine years.
Voro is overseeing the youngest squad in La Liga, one which had no mid-season reinforcements. Lim’s reluctance to address the media or appear in public means it is difficult to ascertain what his ambitions for the club might be. He has not attended a game in Valencia since December 2018
He did however tell in a rare 2021 interview that he regards Valencia as a “trophy asset” which has been “incredibly good for networking”.
Those comments clearly didn’t do much to appease Valencia fans, leading COPE Radio and Marca reporter Pedro Morata to a dark conclusion.
“This man is sitting on his sofa in Singapore and playing with Valencia like a toy,” Morata told.
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