SINGAPORE, June 27 -- Singapore tycoon Peter Lim is not stepping away from Valencia CF, as the Spanish football club announced it has secured €322 million (RM1.6 billion) in financing to complete its long-delayed new stadium, the Nou Mestalla.

Scheduled to open in 2027, the 70,044-seat stadium will be Spain's fourth largest, behind the redeveloped Nou Camp, Santiago Bernabeu, and Metropolitano Stadium, according to a report in The Straits Times today.

Valencia president Kiat Lim, Peter Lim's son, hailed the financing as a "historic milestone", saying it would enable the club to deliver a "world-class stadium" and reflects growing global investor confidence in the club.

The financing includes a €237 million note issuance wit...