ANDl Mayor of Valencia Joan Ribó has taken advantage of economic injection that the Mestalla club has received from LaLiga Impulse, through the investment fund CVC, to remember the obligation to finish the new Mestalla. This work, paralyzed since 2009, is framed in the legal figure of the ATE (Strategic Territorial Action) with agreements beneficial to the club and whose term expires this summer. The first mayor has taken advantage of a interview on Radio Valencia to refer to the financial aid that the black and white club has received, despite its doubts. “I would like to be sure, but at this time I have no guarantees. Yes i have the confidence that Valencia will take the measures – now that it has the resources – to work in that direction. And now with much more force because if they have reached 120 million and eighty-odd are mandatory for works of this type, there is no excuse for not doing it. ”
The mayor of Valencia was referring in this way to the economic injection that LaLiga clubs have received of 2,700 million euros, through an investment of British CVC Fund, of which in round numbers 120 million correspond to Valencia. As broken down in the explanations, the 70% of that aid (84 million in the case of Valencia) should go to the infrastructure improvement and the most urgent and necessary for the club at this time, for unmet obligations, is the new stadium.
If you have reached 120 million and eighty-odd are mandatory for works of this type, there is no excuse not to do it
Do not forget that Valencia described as the main argument so that the ATE could not comply with the fact that it had worked for him “impossible to present a sustainable economic project financially for the club that allows undertaking the actions provided for in the ATE within the terms initially contemplated therein, due to the absolute impossibility of obtaining necessary bank financing for the construction of the New Stadium as a result of the current economic context “.
The image of a half-built stadium is degrading for the city
Ribó has reiterated that the image that the new stadium gives with the paralyzed works is very negative For the city. “I have always said, when we have talked about the ATE that the fundamental element is to finish the stadium. The image of a half-built stadium is degrading for the city. First of all, obviously, for the club, but also for the whole city. The stadium must be finished, it is essential“, insisted the mayor on Radio Valencia.