August 18 – Valencia have confirmed Layhoon Chan (pictured) will become the new president with various boardroom changes taking place at the club.
In a statement, the club wrote: “Ms. Chan will oversee the operations of the Club with the support of local management and will be responsible for its overall management and strategic direction.”
LayHoon Chan is a Singaporean financial advisor who oversees the investments of Peter Lim, who acquired a majority stake for €100 million in Valencia in 2014. Chan was appointed CEO in December as one of the Asian magnate’s most trusted persons.
Joey Lim will stand down as executive director, to be replaced by Pang Liang Ong, who has 25 years of experience in the banking sector.
The statement added: “The Board wishes to reiterate that Valencia CF is fully committed to the long-term growth and success of the Club. The Council wants to continue strengthening the relationship with its fans and bring them great joy. Likewise, the Board wishes to continue working with the authorities and other parties involved to take the Club to the top.”
Lim’s ownership at Valencia has been very turbulent, with fans at first happy that a saviour for the debt-ridden club stepped in, but soon the relationship between the owner and the fans became estranged over the way the club was run.
Last May, supporters protested outside the Mestalla Stadium, waving signs saying ‘Lim Go Home’ and calling for the Singapore businessman to sell the club.
The fan base have accused Lim of using the club as a personal toy for self-enrichment. In an interview with the Financial Times last year, Lim said: “I can do 101 things to make money, and money that I believe I can better control. This is something quite nice. I wake up, I own a football club and I see what happens next. It’s nothing more.”
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