WATCH: Valencia abandon shareholders’ meeting due to insults and songs

Valencia’s shareholders’ meeting has been abandoned by the board, due to dissent coming from the stands in Mestalla.

On Wednesday night, it was revealed by Superdeporte that Valencia owner and Meriton Holdings majority shareholder Peter Lim was under investigation for administrative malfeasance. The Singapore-based owner has faced several legal complaints over recent years, but it yet to face charges that jeopardise his ownership of the club.

Meanwhile on Thursday, Valencia’s shareholders’ meeting was held on the Mestalla grass to accommodate around 300 minority shareholders in the stands. However after repeated attempts to hold the meeting, the club announced they would be proceeding directly to voting on the budgets and motions on the table.

The reason being that the insults and songs from the minority shareholders, protesting Lim’s ownership and Chairwoman Layhoon Chan’s leadership made it impossible to hear, as reported by Paco Polit. They left the table after 15 minutes and proceeded to go inside, without reappearing.

There are now doubts about whether legally the votes can be upheld, given the shareholders’ meeting was not carried out with the opportunity for shareholders to discuss and put forward motions before the votes.

Valencia find themselves in dire straits, rooted to the bottom of the table, and six points from safety. They have just two wins all season.