Valencia did not finish its stadium in the coming years

Last update 16 November, 2012 by Julio Muñoz

It was confirmed expectations and Valencia CF can not resume the work of the new stadium after the breakdown of the agreement between Bankia and Aedifica, which gave the club liquidity sufficient to meet this project.

The protocol of intent, signed in December 2011, contemplated that Bankia, through Newcoval, stay on property the plot occupied by the current Mestalla, the floor the sports city of Paterna, and the tertiary Avenue Courts.

In return, the bank would have to release debt 240 million that the club and grant a loan worth 170 million euros to Newcoval to, as the new promoter of the works of the Coliseum Avenida de las Cortes, could finish the works.

To comply with this part of the deal, Bankia imposed three conditions. First of all, Valencia was to get the urban redevelopment of the plot Aragon Avenue; en segundo, requalification of the Ciudad Deportiva de Paterna; y en tercero, give approval for hotel use in the tertiary ground.

The three points have been resolved favorably to Valencia, according to sources at the club, although Bankia has alleged compliance with these requirements to withdraw from the operation.

Apparently, According to sources of the entity, Bankia Habitat had already informally communicated to his partner for nearly a month fulfilled none of urban agreements stipulated it had not and sponsored in collaboration with the City Council and the Generalitat for this August. Today it has communicated the status of the operation to the president of the Valencia, Manuel Llorente.

For your part, Valencia sources have indicated to EFE that do not have “official communication in writing” that this operation has been discarded, while the City Council has been informed that neither the mayor, Rita Barberá, nor the Town Planning, Jorge Bellver, had evidence that he had broken the agreement between the parties.

The same sources have assessed that all parties have made “notable efforts” save the situation, although ultimately unsuccessful.

For the moment, increase the difficulties in carrying out the completion of the works of the new Mestalla, since only through the operation it has not been able to close, Valencian club opened the doors to obtaining funding to continue the work.

The output of this entity operated by the State occurs after that society Newcoval, supported by the Valencia, this summer achieved the qualification of the project Valencia Dinamiza (comprising the actions of the Valencia in the avenues of Cortes and Aragon) as Territorial Strategic Performance, a legal instrument that allowed expediting the work.

The design of the new stadium was presented valencianista late 2006 and the works started in August 2007, but the club was forced to suspend due to lack of liquidity in February 2009.

Julio Muñoz

Journalist, specialist in international football and retro. I write in and you can follow me at @ juliomv1982
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