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Time for Valencia to repay the faith

SINGAPORE — With Valencia’s financial problems seemingly under control as Peter Lim prepares to become their new owner, club captain Dani Parejo has urged the Spanish Primera Liga side to start repaying the confidence shown in them by the Singaporean billionaire.

SINGAPORE — With Valencia’s financial problems seemingly under control as Peter Lim prepares to become their new owner, club captain Dani Parejo has urged the Spanish Primera Liga side to start repaying the confidence shown in them by the Singaporean billionaire.

Successful negotiations with Spanish bank Bankia, Valencia’s main creditor, have paved the way for Lim to complete his takeover — expected to be completed in the coming months — and wipe the club’s estimated debt of €200 million (S$329 million).

Parejo, head coach Nuno Espirito Santo and forward Rodrigo Moreno were in Singapore for a brief visit to promote the club here. Speaking at Brewerkz Microbrewery and Restaurant at Robertson Quay yesterday, Parejo told TODAY the club must play their part in maintaining Valencia’s revival.

“It is Peter Lim who expects something from us now!” said Parejo, 25, through a translator.

“To achieve our goals, everybody at Valencia, including the marketing people, will have to make Valencia known to the world to help achieve his expectations of the club as well.”

Lim’s takeover has been welcomed by Valencia fans who hope it will restore the club’s heady days when they reached the 2000 and 2001 Champions League final and lifted the Spanish league trophy in 2004.

Parejo admitted there had been scepticism within Valencia over Lim’s intentions, but those concerns have eased.

“Every employee at the club is now very happy because it had been very complicated with the new owner,” he said. “At a personal level, he’s a very normal and easy-going person. We feel really relaxed about him.”

In May, reports said Lim’s Hong Kong-based investment firm Meriton Capital bought 70.4 per cent of Valencia’s foundation to become the club’s majority shareholder.

Last month, Valencia president Amadeo Salvo confirmed Lim’s takeover after Meriton Capital reached an agreement with Bankia on how to settle the club’s debts. The takeover would help finance the building of Valencia’s new 61,500-seater Nou Mestalla.

The club’s newfound stability has been reflected in their encouraging start to the league season, with Valencia second behind Barcelona in the standings after a 1-1 draw at Sevilla and 3-0 win over Malaga.

Spanish forward Alvaro Negredo, who joined the club on a season-long loan deal from English Premier League champions Manchester City, was arguably Valencia’s biggest signing during this summer’s transfer window.

But though Valencia’s financial situation is expected to ease, Nuno insisted he was not looking to sign more players in the January transfer window. He said: “Our priority now is to play well and win matches, and we’ll see if we need new players when we get to December.”

Parejo, a former team-mate of Negredo during their stint at Real Madrid’s reserve side Castilla, also said: “Real Madrid can spend €70 million to €80 million every year on players, and if it doesn’t work, they can spend another €70 million to €80 million to replace them. But we don’t have the means to do this. We aim to be like (Spanish league champions) Atletico Madrid last year. It’s not a question of (big) names, but about working together like a family.”

However, Nuno said Valencia must improve their talent-scouting system and expand into Asia. He also refused to rule out the possibility of a Singaporean player joining them in the future.

“At (Portuguese side Rio) Ave, one of my previous clubs, we almost signed (Singapore national vice-captain) Hariss Harun,” said Nuno. “It shows that if a player has the right quality and ambition, it’s possible.”

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