Valencia owner Peter Lim has agreed to sell 42% of the Spanish club to Pitchwise Holdings in a deal that will also provide €100m in new capital.
The agreement between Meriton Holdings, Valencia’s main shareholder, and Pitchwise Holdings was announced in an official club statement, according to derbyderbyderby.it.
Under the terms of the deal, Pitchwise Holdings will acquire its 42% holding and inject €100m into Valencia. The transaction values the club at €1.25bn.
The agreement does not immediately bring Peter Lim’s ownership to an end, but it represents the first step towards the conclusion of his stewardship of Valencia, who are enduring one of the most difficult periods in their history.
The club’s last season that matched its proud tradition came in 2018/2019. Managed by Marcelino, Valencia finished fourth in La Liga before completing the campaign with a Spanish Cup triumph over Barcelona in the final.