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.

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

The Board of Directors of Valencia CF is pleased to announce the appointment of Mr. Kiat Lim as the new President of the Club, a position he will officially assume on March 5, 2025.

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.

In an announcement on the club's website on Monday (Mar 3), Valencia's board of directors said that Mr Kiat Lim, who is also known as Lim Wee Kiat, will take over the role from outgoing president Ms Chan Lay Hoon on Wednesday.