It was not long ago that Valencia were reportedly on the verge of bankruptcy. Severe financial problems forced the construction of its ultra-modern and high-seating-capacity Nou Mestalla to be halted, and payment of wages to players and club staff had to be delayed.
But, things seem to be improving for the troubled Spanish giants.
Only one month following the resignation of Vicente Soriano, it is becoming increasingly apparent that he will in fact return to Mestalla as its savior, as the front man of investment firm Inversiones Dalport SA.
Reports are emerging that they will soon complete the purchase of a 51 percent shareholding, securing a majority, and paving way for Soraino to become president again.
According to press, Inversiones Dalport SA are wiling to pay €500 million to buy the site of old Mestalla, wiping the club’s debts in the process. If this materializes, then Valencia can move forward to complete building the Nou Mestalla—with the added certainty of a five–star status from FIFA—meaning it might even host the 2011 Champions League final.
The 73,000 seating capacity that the Nou Mestalla provides is crucial to a bright future for the club. It will generate revenue that could attract top quality players, and pay high wages required to sign them. This would provide a platform for Valencia to truly become a top club, fight for the La Liga title, and improve its performance in European competitions.
Vicente said to AS: “I do not want to go into the details of the operation in respect to how much I had to pay for the shares, but it is an agreement that I had with Soler back in September.”
“My idea is to regain the presidency and the control of the club and what is clear is that one of my companies now has 51 percent of the shares.”
In the end, this will be good for the club because it will not have to sell its prized players to alleviate financial woes. Instead, it will be in a strong position to keep them for next season’s title charge, or at least, to claw their way back into a money-spinning Champions League spot.