Valencia enlist help of America investment company as efforts made to raise €120m for Nuevo Mestalla project
It’s been 17 years since work started on Nuevo Mestalla, but it is still nowhere near complete. Valencia were forced to halt the project 18 months after it began for financial reasons, but there is now a renewed effort taking place to ensure that it is done. Valencia are looking for €120m in liquidity that […] The post Valencia enlist help of America investment company as efforts made to raise €120m for Nuevo Mestalla project appeared first on Football España.
It’s been 17 years since work started on Nuevo Mestalla, but it is still nowhere near complete. Valencia were forced to halt the project 18 months after it began for financial reasons, but there is now a renewed effort taking place to ensure that it is done.
Valencia are looking for €120m in liquidity that would be used towards the project, and as reported by El Confidencial (via Relevo), they have hired the services of American investment bank, Goldman Sachs.
The idea is for the construction work to be financed, which will allow the Nuevo Mestalla project to finally be completed. The club, with the help of Goldman Sachs, is aiming to re-finance its structural debt with financial institutions, which would allow a payment schedule to be to established that does not restrict the day-to-day life of the club as much as before.
It remains to be seen whether Valencia can finally get the Nuevo Mestalla built – the club and supporters alike will hope so.
Image via Manuel Queimadelos Alonso/Getty Images
The post Valencia enlist help of America investment company as efforts made to raise €120m for Nuevo Mestalla project appeared first on Football España.
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