KKR founders, Walton-Penners buy 42% of Valencia in €525M secondary deal
What's the deal? A consortium has bought 42% of Spanish football club Valencia CFDealroom has a profile for this one. Try Dealroom → in a €525 million secondary sale that values the LaLiga side at €1.25 billion ($1.25 billion). The group, Pitchwise Holdings, is led by investors Ann Rodriguez and Corey Woolfolk, and includes KKR co-founders George RobertsDealroom has a profile for this one. Try Dealroom → and Henry KravisDealroom has a profile for this one. Try Dealroom →, plus Penner Sports GroupDealroom has a profile for this one. Try Dealroom →.
Who's selling? The stake comes from Kiat Lim's side of the ownership. Lim's Meriton Holdings stays majority shareholder at 57%, and Lim remains president alongside Rodriguez and Woolfolk in the new group.
How big is this? The €525 million round sits in the upper tier for the sector, ranking around the 78th percentile by amount. The investors are also injecting a further €100 million directly into the club.
Why the price? The €1.25 billion valuation leans on the 70,000-capacity Nou Mestalla stadium, set for completion this year after more than a century at the current Mestalla. Valencia expect the new ground to lift matchday revenue — currently about a quarter of turnover — by as much as three times, potentially raising overall revenue by 50% within a year of opening.
By the numbers: In 2024-25, Valencia generated €103.7 million in revenue and an operating profit of €23.8 million. On the pitch the club has struggled, sitting second-to-last in LaLiga after 10 games with one win.
"There has been no shortage of interest in Valencia; the Pitchwise team was the only partnership I was keen to pursue," Lim said. "They bring long-term investment expertise and sports acumen."
What could go wrong? The valuation hinges on the stadium delivering its projected income. If Nou Mestalla's opening slips or revenue falls short, the business case weakens.
A parallel deal: Record German champions Bayern Munich have also sold a minority stake — just under 6.7% — to the Viessmann family's investment vehicle in a deal reportedly worth €250 million, valuing the club at €3.73 billion. The sale takes external ownership to the club's 30% cap, with members retaining 70% control.
The signal: Both deals extend a surge of high-value minority investment in elite football, following a Bezos-backed consortium's purchase of roughly 38% of LiverpoolDealroom has a profile for this one. Try Dealroom → in August. They also show two distinct models: growth capital tied to a stadium transformation at Valencia, and a capped strategic bet at Bayern.
Read more: europesays.com
Image credit: Valencia CF
