📝 usncan Note: Billionaire Peter Lim’s Son Leads Football Team Valencia Into New Era
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Kiat Lim.
Valencia Club de Fútbol
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Speculation that healthcare billionaire Peter Lim was looking to sell his majority-owned Valencia CF was put to rest in March, when his 32-year-old son, Kiat, was named president of the Spanish football club.
The scion is now overseeing construction of the long-delayed 70,000-plus-seater stadium, Nou Mestalla, set to open in 2027. In June, Valencia said it had secured €322 million ($373 million) in financing through the issuance of notes and a loan for the new stadium, which will be Spain’s fourth-largest by capacity.
An ardent football fan, Lim acquired Valencia in 2014 for €420 million, helping to rescue the debt-laden club from bankruptcy. But the past decade has been a rocky one for Valencia, marked by financial stress and a performance record that disappointed fans. The new president has a positive outlook.
“We’re going from fewer than 500 hospitality seats to more than 6,500, from a dated venue to a modern destination that can host major events year-round,” says Kiat. “Nou Mestalla is not just bricks and seats—it’s the engine that will drive our next era of growth,” he adds.
