Valencia had a small glimmer of hope last week when it was reported that hugely unpopular owner Peter Lim had officially put the club up for sale.
Now, though, the Singaporean billionaire has left those hopes in tatters.
In a statement through his holding company the Business Times quoted: “Meriton wants to make it clear that such reports are false. Valencia CF is not up for sale and it remains committed to Valencia CF.”
Lim has barely been present in Spain in recent years, and his family and executives have long suffered abuse in the city.
With the club in a relegation battle, president Chan Lay Hoon recently had to call off a public board meeting over boos.
Now she’s departing, but the new name doesn’t come with much hope.
“I am pleased to pass the baton to Mr Kiat Lim, who is the son of our major shareholder,” she said in a statement.
“This appointment is a strong affirmation of the shareholder’s ongoing commitment to the club and its future.”
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