Valencia, “sold” – Sports Stadium
Is it for sale or not for sale? This is the question that has occupied the Valencia Football Club and the Valencian community in recent months.once the disastrous first half of the season was certified. While various voices suggested that Peter Lim had entered the financial market with the intention of selling his shares in Valencia CF for more than 400 million euros, those around the Singaporean businessman noted that “no” and that his two-year-old plan remained unchanged. .
However, these movements indicate a certain optimism among Valencia fans. The cancellation of the loan at CaixaBank, following the restructuring of the entire debt, means that the current Mestalla can free itself from the mortgage that has collapsed on it, as well as from the obligation that existed with Peter Lim until 2026, for which it had to maintain at least 51% club shares.
Financial assistance from Goldman Sachs made it possible to close a double loan totaling 186 million euros, thereby canceling the loan opened with CaixaBank. as well as two more. Valencia therefore removes the mortgage on their stadium and Peter Lim can sell his shares today if he wishes.
When Peter Lim became Valencia CF’s largest shareholder in 2014, the debt to CaixaBank was revised down to €61 million; the reduction is conditional on holding at least 51% of the shares until 2026.
To renegotiate the terms of its debt, Valencia Football Club has now signed two loans: Goldman Sachs for 65 kilos over one year and another for 121 million with various creditors. for a period of seven and a half years and without payments until 2027. The guarantees for repayment of this loan are the club’s television and sponsorship rights, while other guarantees are income from the Nou Mestalla and the land for the new stadium.
Thanks to this movement The club can sell the site of the current Mestalla stadium without having to depreciate any amount.. Its valuation already exceeds one hundred million euros. That is, Che’s team has radically changed its financial scenario by issuing three loans worth more than 500 million euros, which create a favorable situation for closing the deal overnight. Yes, Nou Mestalla will be expensive.