Mendieta backs Peter Lim
The Singaporean businessman took over ownership of the Spanish club after buying 70.4% of the shares owned by the club's foundation in May 2014.
Although some of the Asian owners of European football clubs in recent years have not been well-received, Mendieta vouched for Lim to come good.
“There were some concerns in the city when he first took over because we did not know anything about him besides the fact he is a businessman,” Mendieta, who is currently in Malaysia as a guest pundit at Astro SuperSport, told FourFourTwo Malaysia.
“But the fans have realised that he is being genuine and really wants to help the club.
“He has brought in a few good players like Andre Gomes, Alvaro Negredo and Rodrigo [Moreno Machado], and the team are doing so well at the moment, which is what the fans really need to believe in the club again.
“Obviously it will be a long process [to become title contenders again], but with his arrival I think things are getting exciting again for the Valencia fans.”
Despite never meeting the Singaporean in person, Mendieta praised the way Lim assimilated into the club and its cultures.
“I have not personally met him, but I like the fact he is surrounded by football people like Jorge Mendes [the super-agent of Cristiano Ronaldo]," he said.
“It is sometimes a mistake when a non-football person thinks he knows football just because he has money, but it has not been the case with Lim.
"He is letting himself being advised, which is good."
Valencia are currently sitting in fourth place in La Liga, just six points behind league leaders Barcelona.