Former Valencia vice-president Miguel Zorio has offered to buy the club from owner Peter Lim.

Zorio is offering €250m for Lim's 90 per cent shareholding.

Mundo Deportivo reports through a statement from his group 'Marea Valencianista', Zorío declared he'd sent the offer to Lim's home in Singapore, as well as to Germán Cabrera, lawyer for Meriton Holdings in Spain, to Layhoon Chan, current president, and to Jorge Mendes, Lim's partner and player representative.

If Lim accepts, Zorío will prove, together with the financial entity with which he already works, the availability of funds to make the payment, before carrying out a 'due diligence' that will last three months to analyse the financial reality of the club.

At the end of this 'due diligence', the final offer would be made to the buyer and in the next 30 days the sale of the club would be signed, the statement states.

The former vice-president stressed that the offer proposes a plan to sell 51 per cent of Lim's shares to small shareholders and fans for three years, and then offer packages to businessmen and sponsors, before listing the rest of the shares on the stock market.

"Valencia is one of the big three in Spain and one of the big eight in Europe. That is our main objective. The work will be hard, but we will achieve it," said the statement, which emphasises that "the objective was and is distribute the shares among the fans and recover Valencia for the Valencians."

"The ball is now in the court of Peter Lim and the Valencia City Council, who must decide between helping the great enemy of Valencianism or supporting the recovery of the club simply by complying with the law and with a publicly committed word," he concluded.