Valencia CF are arguably Spain’s fourth largest club, winning six La Liga’s as well as eight Copa Del Rey titles and a famous UEFA Cup victory in 2004.
In 2004 Rafa Benitez led Los Che to the double, winning their second La Liga title in three years and beating Marseille 2-0 in Gothenburg to lift the UEFA Cup. It was the pinnacle of the club’s history, with a squad boasting players such as Fabio Aurelio, Mista, Vincente Rodriguez and Roberto Ayala.
However, since that remarkable season the club have not lifted a La Liga title for 19 years and have been embroiled in bankruptcy, where supporters have suffered a long-standing feud with current Singapore billionaire owner Peter Lim.
In 2014, Peter Lim placed a 74% stake in the East Coast Spanish club, investing £94m to save Valencia from its financial turmoil. The 69-year-old was hailed as a saviour by the team’s supporters with over 40,000 turning up at Lim’s unveiling to welcome him to their club.
In his first season supporters cherished his ownership, believing it was a turning point to re-capture the success they had tasted back in 2004. Nuno Espirito Santos, a novice managerial appointment proved to be a worthwhile risk as Valencia matched their highest ever points tally in La Liga to finish fourth in a Champions League spot.
Los Che supporters had been shown a glimpse of this new dawn at the club, and the following season Lim invested over £140m on quality signings such as Joao Cancelo, Rodrigo and Andre Gomes to improve a star-studded squad featuring the likes of Dani Parejo and Jose Gaya.
However, Lim’s naivety was exposed in the 2015-16 season as the club’s form stuttered to a halt under inexperienced head coach Espirito Santos, resulting in his exit. The owner plunged to the depths of his close associates and appointed Sky Sports pundit Gary Neville for his maiden managerial venture. The former Manchester United full back was sacked after a comical six months and the club plummeted to finish 11th in La Liga, their first time outside the top ten in 20 years.
In the five years that followed, what became evident to Valencia supporters was that Lim was a “businessman” who prioritised the club’s financial stability above all else. This bred a disparity between the fans and the ownership, as the club shifted further away from its historical routes.
Lim’s disregard for the club on the field became apparent in 2020, when he sacked fan favourite Marcelino in the dug-out after the Brazilian had finished in the top four and won the Copa Del Rey.
Marcelino allegedly critisced Lim’s lack of investment in the club at a press conference, and in a dictatorial act to reinstate his power Lim sacked him. This lay down the a precedent at the club, with a mass exodus to follow.
Firstly, club captain Dani Parejo who had been at the club for nine years was forced out of the door joining rivals Villarreal in a cut-price deal. Shortly afterwards Francis Coquelin followed suit, with academy prospect Ferran Torres being sold to Manchester City for just £26m.
It was a travesty for fans, who were outraged with the club’s eagerness to sell their prized assets for a pittance. In response, club president Anil Murthy insisted “hard times were ahead” with the ownership acting to save the club from bankruptcy.
By the end of the 2020-21 season two Sporting Directors had resigned in Mateu Alemany and Cesar Sanchez as the club finished 9th. The onslaught of fan protests and toxicity within the Mestalla stadium was met by Peter Lim with a stern warning:
“The club is ours and we can do anything we want with it?”
The 2021-22 season saw a continuation of departures such as Rodrigo to Leeds United, as the club finished closer to the relegation zone than the top seven based on points. (9th)
At the final home game on May 21, 2022, 10,000 supporters marched to the Mestalla stadium to revolt against Peter Lim and club president Anil Murthy.
Fans were given their wish in May, when Anil Murthy was forced to resign from the club after a viral video showed him threatening star player Carlos Soler if he left the club. Subsequently, the 23-year-old joined Paris Saint Germain later in the transfer window for a reduced fee of £20m. It was announced that the club must find £54m by the end of the season to avoid financial measures.
This season the club face an impending doom, lodged in 18th place, three points from safety with 11 games to go. It would be the first time in 37 years that the former UEFA Cup winners are relegated from La Liga.
Gennaro Gattuso was sacked after six months, the tenth manager under Lim, replaced by Valencia icon Ruben Baraja in a tokenistic move from Lim to appease the fans. However, the former player has never managed above the second division in Spain, and he is yet to rectify the club’s woeful form on the pitch.
While, Lim still sits upon his pedestal, ignorant to the Valencia fans pleads for him to step down the club appears destined for relegation. His reign must surely end if Valencia do face the plunge, but it begs the question what will be left of the club if he does retract his long-standing grasp.
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