The focus of the opposition to
Peter Lim's
management
at
Valencia CF
has been placed not only on the control of each of the movements that
Meriton
makes at the head of the club, but also on how the sales process was managed, which ended up becoming as the largest shareholder to the Singaporean businessman.
The reports that were wielded before the employers so that they could choose the best offer from those presented - initially there were seven but were reduced to three - included that Lim would pay
100 million
for 70.6% of the shares owned by the
Valencia Foundation
euros, instead of the 94 that the agency owed Bankia.
Those six million represented extra funding so that the Foundation could develop its social project, which is headed by
Valencia Femenino
and which then also included grassroots football.
However, of the six million only one of them was paid.
The other five were put on hold when in July 2016 when
Brussels
announced that it was fining Valencia with 20.4 million euros for an alleged illegal State aid after receiving an
endorsement from the IVF
for the Foundation to become the club's maximum shareholder. .
The long judicial process undertaken by the club has meant that for five years Lim has not had to face up to his commitment, included in the sales contracts and enforceable.
Last March, the General Court of the European Union agreed with Valencia and lifted the sanction imposed, but the European Union appealed against the decision and the payment to the Foundation was again frozen.
It so happens that Valencia has seized on the sentence in favor to
release the provision of 24 million
that it had been registering in its accounts in recent years to face the possible payment, but Meriton continues to wait for the ruling be firm to meet your commitment to the Foundation, which would already have to be done in a single payment of five million euros.
Currently, the Valencia Foundation is chaired by
Ng Ser Miang
, Singapore's Ambassador to Norway and a member of the IOC.
Along with him are
Anil Murthy
,
Kim Koh
-the two top executive positions of Valencia CF-,
Sean Bai
, director of the Academy, and the Valencians
Salvador Martínez
and
Salvador Belda
.
All of them, fulfilling their duty as trustees, must demand the payment that would guarantee the survival of the Foundation's activity for several years, since their annual budget is around one and a half million euros.
According to the criteria of The Trust Project
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