SINGAPORE: Spanish football club Valencia will have a new face at the helm, after the owner's son was appointed as its new president.

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.

He is the son of Singaporean tycoon and Valencia owner Peter Lim.

The younger Lim, who has been a director at Valencia since 2022, "takes on this new responsibility at a pivotal moment for the organisation", said the La Liga club.

"His appointment demonstrates a strong long-term commitment to the club, and reinforces the club's commitment to ensuring stability and building a solid project for the future."

Ms Chan, who has been Valencia's president across two separate spells, said she was "pleased to pass the baton to Mr Kiat Lim".

This appointment is a strong affirmation of the shareholder’s ongoing commitment to the club and its future, she added.

The younger Lim sits on the board of Singapore Exchange (SGX)-listed Thomson Medical and he was appointed as executive vice-chairman on Sep 1 2022, according to a profile on the group's website. He is also the chairman of RSP, an architectural and engineering design group.

His father, who is one of the richest people in Singapore, bought Valencia in 2014. 

According to media reports earlier on Monday, his private investment company, Meriton Holdings, denied that Valencia was up for sale, following claims by Spanish radio broadcaster COPE that the club was on the market for at €400 million (S$562 million).

Protests against the elder Lim have become commonplace in Valencia over the past few years, with banners saying "Lim go home" regularly sighted at La Liga games staged at the club's Mestalla Stadium.

In October last year, Singapore police issued a stern warning to a Spanish couple, whose passports were initially impounded, amid police investigations into their protests against Valencia's owner. 

Valencia fans have questioned several decisions made by the football club's management, including the selling of star players, the sacking of coaches and plans to build a new stadium.

The team is currently languishing in 18th place in the Spanish top flight and in danger of relegation.