Valencia secures €100m capital pledge in Pitchwise ownership deal
Pitchwise Holdings has agreed to acquire 42% of Valencia and inject €100m in fresh capital, in a transaction valuing the club at €1.25bn including debt, while Meriton retains majority ownership and Kiat Lim remains president.
Valencia have agreed an ownership partnership with Pitchwise Holdings that will bring €100m in new capital into the club, alongside a minority share acquisition as they prepare for the move to Nou Mestalla.Pitchwise will ultimately hold 42% through a transaction involving shares purchased from Meriton Holdings, which will remain the majority shareholder, with Kiat Lim continuing as president.Lim said: “There has been no shortage of interest in Valencia; the Pitchwise team was the only partnership I was keen to pursue. They bring long-term investment expertise and sports acumen, and we have gotten to know each other very well.“With Ann, Corey, George and Pitchwise Holdings, I am confident that we are entering a new era and we can achieve great things for Valencia CF.”The agreement values Valencia at an enterprise value of €1.25bn, covering the business and its assets rather than establishing a €1.25bn price for its shares.The price paid to Meriton has not been specified, while the separate €100m capital commitment is intended for direct investment into the club.Completion remains subject to customary conditions, including regulatory approvals.Pitchwise is led by sports executives Ann Rodriguez and Corey Woolfolk, with backers including KKR co-founders George Roberts and Henry Kravis, alongside Penner Sports Group.Those individuals’ participation does not make the transaction a KKR investment, with the club identifying them as backers of the Pitchwise consortium.Rodriguez and Woolfolk said: “We’re honoured to join Kiat in the stewardship of Valencia CF, one of the great institutions in Spanish football.“With its illustrious history, huge and passionate fanbase and a spectacular new stadium nearing completion, the club has all the building blocks needed to be a leading club in Europe in both men’s and women’s football.“However, we also know that the regulatory and competitive landscape of the modern game means that potential alone is not enough – it requires a clear investment strategy and focus. We can’t wait to work with everyone at the club, including the fans, to deliver just that.”The transaction’s valuation includes the men’s and women’s teams, the existing 49,000-seat Mestalla and the Nou Mestalla development, which is designed to accommodate more than 70,000 spectators.The stadium move is central to the ownership group’s plans, although the announcement does not allocate the new capital between construction, football operations or other expenditure.Lim outlined ambitions extending across the club’s sporting and infrastructure activities.He said: “Together we will build a modern club whose men’s and women’s teams compete consistently in Europe, whose academy produces world-class talent, and whose new home at Nou Mestalla becomes a landmark for the city and the entire region of Valencia.”Rodriguez brings more than 25 years of experience across organisations including Atlanta United, San Jose Earthquakes, the WNBA and the LA28 Olympic organising committee.Woolfolk combines a professional playing background with venture capital and football investment experience, while Penner Sports Group’s holdings include the Denver Broncos and a minority interest in the Colorado Rockies.Speaking on behalf of Pitchwise investors, Roberts said: “We have gotten to know Kiat very well and believe that this new partnership and Valencia represents the most exciting opportunity in European football.“We look forward to supporting Ann, Corey and Kiat as they take the club into a bright future.”