The family offices of KKR co-founders Henry Kravis and George Roberts have joined a US investment consortium acquiring a 42% stake in Spanish football club Valencia CF, in a transaction valuing the club at €1.25bn, according to Private Equity Wire. The consortium, Pitchwise Holdings, has agreed to inject €100m of new capital into the club, according to Private Equity Wire.
Consortium composition and leadership
Pitchwise Holdings includes Penner Sports Group, owner of the NFL’s Denver Broncos, according to Private Equity Wire. Pitchwise is led by Ann Rodriguez, a former chief operating officer of the WNBA, and Corey Woolfolk, a former professional footballer and biotechnology investor, according to Private Equity Wire.
Penner Sports Group is controlled by Walmart chairman Greg Penner and his wife Carrie, and also holds an investment in the Colorado Rockies baseball franchise, according to Private Equity Wire.
Stadium development and valuation details
The reported €1.25bn enterprise valuation includes debt associated with the stadium project, including €322m of financing arranged last year, according to Private Equity Wire. Valencia is developing the Nou Mestalla, a planned 70,000-seat stadium that could host matches during the 2030 FIFA World Cup, according to Private Equity Wire.
Valencia’s existing Mestalla stadium occupies a city-centre site earmarked for redevelopment following the move, according to Private Equity Wire.
Ownership context and recent Spanish football deals
Valencia has been controlled by Singaporean billionaire Peter Lim for more than a decade and has been seeking additional shareholders since 2025, according to Private Equity Wire. The investment reportedly comes as Valencia seeks to strengthen its finances and complete its stadium development following a prolonged period of weaker sporting performance, according to Private Equity Wire.
The club has not qualified for European competition since 2019 and was 19th in La Liga at the time of the transaction, according to Private Equity Wire.
The investment follows a series of major private capital transactions in Spanish football, according to Private Equity Wire. Apollo acquired a majority stake in Atlético Madrid in March at a valuation of approximately €2.5bn, while Sixth Street has established investment partnerships with Real Madrid and Barcelona, according to Private Equity Wire. CVC Capital Partners invested approximately €2bn in La Liga’s commercial operations in 2021, according to Private Equity Wire.
