VALENCIA. These are the conditions of Peter Lim’s latest 35 million loan to Valencia CF. A year ago, the president of Valencia CF, Layhoon Chan, revealed that the largest shareholder was going to make another financial contribution in the form of a loan to inject liquidity into the entity. An amount that Valencia CF has already used, as reported by Valencia CF in the official accounts to which it has had access Sports Plaza.
On December 19, Peter Lim granted Valencia CF a loan of 35 million euros, of which Valencia has used 34.5 million euros. The conditions that Peter Lim has imposed for the company to return the amount are as follows:
-70% will be prorated in equal parts from December 2024 to December 2028.
-The remaining 30% will be paid on July 1, 2029.
Way to pay
In this way, Valencia CF will have to pay an annual fee of 4.9 million euros to Meriton until the 2019 season and then will settle the total, which is set at 10 million. In this sense, Valencia has to face a short-term total payment – on June 30, 2023 – of 42.3 million euros for different debts with credit institutions, sports clubs and other items that are not specified.
What guarantees has Peter Lim taken?
The guarantees of the credit that Meriton has granted to Valencia CF involve receiving the first five million euros received from the sale of any player who is part of the first team at any given time.
The debt with Caixabank and Rights and Media Funding is reduced
On the other hand, Valencia CF has managed to make payments with the credit institutions from which it has requested financing and has reduced its fee. The loans with Caixabank decrease to 89 million in two different credit lines -77.5 and 11.5- while the loan of 50 million that was requested from the investment fund related to LaLiga, Rights and Media Funding also decreases to 33. 8 million euros.
2023-11-14 05:54:32
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