Valencia CF to sell 42 per cent stake to KKR-backed investment group in 1.25 billion euro deal

File Image: Valencia CF will leave Mestalla Stadium for the new 70,000-seat Nou Mestalla, which opens next year. | Photo Credit: AP

Spanish football club Valencia CF announced on Friday that investment consortium Pitchwise Holdings will acquire a 42 per cent stake in the club, in a deal valuing it at 1.25 billion euros (1.4 billion dollars).

The consortium, backed by KKR co-founders George Roberts and Henry Kravis, will purchase shares from the club’s majority shareholder, Meriton Holdings.

Pitchwise Holdings comprises private family offices and long-term institutional investors and is led by sports executives Ann Rodriguez and Corey Woolfolk.

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As part of the agreement, the consortium will also inject 100 million euros in fresh capital for direct investment in Valencia.

The transaction is subject to customary closing conditions, including regulatory approvals.

Meriton Holdings will remain the majority shareholder, while Kiat Lim will continue as club president.

Rodriguez and Woolfolk will join Kiat Lim in the club’s new ownership structure.

The investment comes as Valencia prepares to move into its new Mestalla stadium and looks to improve its form following several difficult seasons.