Valencia owner Peter Lim in for long haul as club secure $478m financing for new, bigger stadium

Valencia's new stadium, the Nou Mestalla, is slated to open in 2027. The 70,044-seater stadium will be the fourth biggest in Spain. PHOTO: ARTIST'S IMPRESSION COURTESY OF VALENCIA CF

Valencia owner Peter Lim in for long haul as club secure $478m financing for new, bigger stadium

SINGAPORE – Quashing rumours that Singapore tycoon Peter Lim is looking to offload his La Liga club, Valencia announced on June 26 that they have successfully secured full financing for their new stadium the Nou Mestalla to the tune of €322 million (S$480.1 million) .

Slated to open in 2027 , the 70,044-seater will be the fourth-biggest stadium in Spain after Barcelona’s Nou Camp (105,000 after redevelopment), Real Madrid’s Santiago Bernabeu (81,044) and Atletico Madrid’s Metropolitano (70,692). The current Mestalla stadium has a capacity of 49,419.

Valencia president Kiat Lim, who is Peter’s son, said in a media statement: “This marks a historic milestone for Valencia CF. Securing this landmark financing gives us the green light to deliver Nou Mestalla – a world-class stadium that will power the club’s growth for generations.

“It is the clearest expression of our long-term commitment to Valencia, and a reflection of the trust and confidence the club now commands in global financial markets. With this agreement, we are building more than a stadium – we are building the future of Valencia CF.”

In the statement, Valencia said “the outstanding indebtedness transaction” for the Nou Mestalla has been structured through the issuance of notes with a maturity of 28 years for €237 million, and the subscription of a five-year loan for €85 million.

The loan will be repaid with proceeds from the sale of the land on which the current stadium stands after the new one is completed.

Kiat, who was appointed Valencia president in March, said: “The new stadium gives us a major game-changer... in both revenue potential and fan experience – a bold move forward, and one long overdue.”

Valencia president Kiat Lim is the son of owner and Singapore tycoon Peter Lim. PHOTO: VALENCIA CF

Since 1923, Valencia have been playing at the Mestalla, which was initially built for 17,000 supporters before it evolved to its current capacity.

Plans for a new stadium, situated about five kilometres away from the Mestalla, were actually unveiled in November 2006 and work began in August 2007. But in February 2009, construction was suspended as the club struggled financially, five years before Peter’s takeover.

Yet, despite a difficult season where they had to claw their way from bottom to finish 12th, attendance remained strong, averaging 43,132 spectators per game, with season ticket holders filling 90 per cent of the seats on average.

But while the spirit is strong, the infrastructure has aged – the Mestalla is the oldest stadium used by a current La Liga side and has fewer than 500 saleable hospitality seats, while the Nou Mestalla will offer 6,500 hospitality seats.

The club also envisions hosting a broad range of events – from leisure and entertainment to business and meetings, conferences and exhibitions – and are actively exploring new commercial opportunities in terms of naming rights, founding partners, enhanced hospitality offerings and digital fan engagement zones.

Estimating that Valencia will more than triple their current revenue with the new stadium, Kiat, 31, said: “Driven by expanded hospitality, greater capacity and multi-purpose event hosting, we expect revenue uptake for Nou Mestalla to be very significant – matching the investment and the club’s vision.

“Nou Mestalla won’t just open on match days – it will be alive 365 days a year.”

The new stadium has been designed in line with the world’s leading multifunctional venues and is expected to become the “epicentre for sport, leisure and entertainment in the city and throughout the wider Valencia region”.

In 2014, Peter’s Meriton Holdings bought Valencia and effectively saved them from bankruptcy and administration after years of mismanagement.

According to the club, the 72-year-old has committed over €200 million, the largest in La Liga history by a single individual , allowing the club to stay financially stable and continue investing in key projects, including the Nou Mestalla as construction finally restarted in January 2025.

The announcement of the Nou Mestalla’s financing comes after Los Ches completed their corporate refinancing in November 2024, which saw them repay existing corporate debts through a long-term corporate facility of €121 million and a short-term bridging loan facility of €65 million.

The club said the exercise helped “strengthen their capital base by consolidating liabilities and increasing financial efficiency”, and the new stadium would “ further reinforce Valencia CF’s financial position”.

David Lee is senior sports correspondent at The Straits Times focusing on aquatics, badminton, basketball, cue sports, football and table tennis.

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