Wednesday, September 23, 2020
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Valencia Searches for an Investment Fund for the Mestalla Real Estate Project

The lack of response from the football club to the request for documentation by the City Council for the reparcelling project of the Mestalla stadium land has forced its paralysis and the need to start over.

Aerial view of the new Mestalla.

A few days ago, Valencia City Council filed the reparcelling project requested by Valencia Football Club for the plots that form part of the current Mestalla stadium, since it considers that the club “has desisted from the process given its lack of response to a request for information dating back to 5 July 2019”. As a result, the club will now have to present a new project and start all of the procedures from scratch.

It is worth remembering that in March, Valencia Football Club broke its agreement with the cooperative (ADU Mediterráneo) that was going to acquire the plots in the former Mestalla stadium. That sale for around 140 million euros was going to allow the club to restart its building work on the Cortes Valencianas stadium. Both the cooperative and the club are looking for members to contribute capital.

Read the full article in Spanish.

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