Valencia CF: new Mestalla | Mari Olano asks Caixabank about the financing of Mestalla

Tuesday, October 17, 2023, 7:27 p.m.

José Mari Olano follows his particular roadmap to resolve the conflict between the new and old Mestalla. The councilor for large projects at the Valencia City Council – at the center of the controversy, both among political parties and Valencian groups – has pressed a new button this time: that of Caixabank. And he has done it so that the financial institution itself can assure him if it is going to offer a bridge loan to Valencia in the event that this is necessary for the completion of the works on the new stadium.

Valencia still has a gap to fill in terms of the remaining budget to finish the works: it has 80 million euros from CVC, with the sale of the tertiary service for which there is already a pre-established agreement (another 30 million) and From there to the 160 million that more or less remain to be completed, there is an important distance. That is what the Popular Party councilor is now trying to guarantee, as Radio Valencia revealed yesterday.

Peter Lim already said at the time that he was not willing to guarantee even a single euro of the missing amount and this is what those in charge of the club in Valencia have forcefully defended. The problem is that the non-compliance that has occurred to date leaves the credibility of the largest shareholder in this case quite in question. And the serious mistake would be to facilitate things as the City Council intends despite there being no guarantees that there will be no money problems when the works are in their most advanced phase.

Without selling the site of the old Mestalla, it is Valencia that must demonstrate the muscle that is now missing to avoid another situation as embarrassing as the one experienced with the now extinct ATE, an issue that still has a judicial front open by the appeal presented by the club in the Contentious-administrative matter.

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