7 questions and answers about Lim's Valencia takeover

· It has taken Peter Lim ten months to get his hands on Valencia and the Singaporean dreams of assembling a star-studded side.

Why did Valencia have to sell up?

Because of the huge debts facing the club and its foundation, which had run the club since 2009.

Who is Peter Lim?

Born in 1953, Peter Lim Eng Hock made his fortune in real estate and on the stock market. His current net worth of around $2.2 billion makes him the ninth richest person in his native Singapore and the 763rd wealthiest person in the world, according to Forbes (at time of writing).

How much money is he shelling out to buy Valencia?

Lim's acquisition of 70.04% of Valencia's shares is worth €94 million, of which €22m have already been put up. Bankia, one of the club's creditors, has agreed to refinance the other €72m over the next four years.

How much will he inject into the club to turn around its fortunes?

Though initially Lim was rumoured to be willing to invest €200m, in the end he has only pledged €100m. What's more, this will not be in equity but rather as a loan that the club will have to pay back.

Who will run the club?

Amadeo Salvo will stay on as president, but he will be overseen by directors at Meriton, Lim's company. Lim's representative, Kim Koh, will make the big decisions.

What are Lim's plans?

The wheels were set in motion this summer with the appointment as manager of Nuno Espírito Santo, whom Lim knows through Jorge Mendes and trusts fully. Players initially signed on loan, such as Rodrigo and André Gomes, will now join permanently: there is also a deal in place to buy Álvaro Negredo for €30m.

Will there be a winter spending spree?

Lim dreams of turning Valencia into a powerhouse. He could feasibly do so, although he will have to tread carefully with regards to Financial Fair Play. Sources at the club have hinted that the new owner wants to give the fans a Christmas present.