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Ben Lyttleton was interviewed about this on Off the Ball yesterday.
He pointed out that Phil Neville is a business partner of Peter Lim in Salford City. He also said this about the wider situation at Valencia:
'There is a power vacuum at the club because the owner Peter Lim is so close to agent Jorge Mendes. They got rid of their Chief Scout and Director of Football over the summer. Mendes is de facto Sporting Director - lots of players came in from Benfica and Otamendi was sold - the fans didn't like that.'