Singapore billionaire Peter Lim has reportedly denied media reports that he is selling his Spanish La Liga team Valencia CF.

Valencia CF said it has appointed Kiat Lim—son of the Spanish football club’s largest shareholder, billionaire Peter Lim—as its new president.

Peter Lim, a Singaporean who came from nothing to becoming a billionaire, recently made headlines after reports that he was putting the famous Spanish football club Valencia CF on sale.

Singaporean billionaire Peter Lim is reportedly putting the Spanish football club Valencia CF up for sale for €400 million (S$562 million), according to Spanish media outlet Cadena Cope. That sum will be for his majority stake in the team. Lim reportedly secured a 70.4 per cent stake in the club for €100 million (S$173 million) in 2014.

Singaporean billionaire Peter Lim has reportedly announced his decision to sell La Liga club Valencia CF following financial difficulties.

Spanish football club Valencia CF have named Kiat Lim, the son of owner Peter Lim, as its new president.

He also refuted media reports that he is looking to sell his majority stake in the club. Read more at straitstimes.com.

Valencia’s future on the pitch has taken an upturn since the arrival of Carlos Corberan as mananger, with Los Che now off bottom and only in the relegation zone on goal difference. However what is