Hope for Valencia?

Some news today after yesterday’s reports of impending doom for our Beloved club …

- Vicente Soriano may have found a way out of this mess … imperative word being maybe.
According to a report in Las Provincias, the Old Mestalla’s buyer is allowing Valencia CF to show their agreement to Bancaja in order to obtain more funds for the club.

Previously, this had been confidential. With the agreement being show to the bank, it’s possible the funds will be made available to the club. The bank will see we’ll be able to pay the debt off and all will be well …

Confusing? Sure is …

Reader Siva posted a comment on yesterday’s entry that sums it up well.

Plagued by debt and liquidity to meet immediate expenses, Valencia sees a silver lining from yesterday for hope. Vincent Soriano believed to have found the way to unblock the negotiations with Bancaja and obtain credit of 100 million euros of that time can not grant the savings bank. The solution lies in the hands of the future buyer of the plots Mestalla.

One of the demands raised by the financial institution at the summit last Monday was to see the document of sale signed in London and exhibited by Vice President Miguel Zori at the last general meeting of Valencia. This breach until yesterday the scrupulous confidentiality clauses included in this commitment. But no longer is the case, according to the provinces confirmed sources close to the transaction, as the enigmatic signature has authorized Soriano to show the agreement to Bancaja and institutions Valencia. Even is ready to face those meetings through an official spokesman.

It is not a concession free. Both parties need to rely on the good faith of his partner. If the Valencia requires in some way that the future buyer comes to light in a private circle, it also faces a difficult juncture. The sale of solar Mestalla has been complicated. The firm with which apalabró in London the transaction has not been thrown back, but, like Valencia has serious liquidity problems. Faced some investments in Asia that have not generated the expected results and this has led to its managers to ask the club blanquinegro a moratorium on the payment schedule.

It may not move at least until after January, despite the fact that Dec. 31 was the deadline for fumata white. However, with his willingness to step up to Bancaja offer arguments to counter the guidelines of the Bank of Spain at Valencia and give the money it needs. In addition, this will be a vital support for the management of Vincent Soriano, who can demonstrate that the effervescent optimism with which he became president was justified.

Bancaja remains of others

Meanwhile, Bancaja remains alien to the plans of Valencia. Neither knows of dates for a new meeting or is aware that nothing has changed. Will be Monday or Tuesday when they know the identity of the buyer, key for the coveted award of credit just when dispelled the dark clouds Vincent Soriano was beginning to think that the lethal legacy that he left Juan Soler outweighs its good intentions.

The discrepancies with Bancaja have been the final blow for Valencia, but before there was another no less important. As he had for signature IMG as a protagonist. Valencia, already in the era of Juan Soler, deck of rental in advance the VIP boxes of the new stadium during a period of between 10 and 15 years, which would generate enough revenue to pay for much of the work. It was not a revolutionary idea or outlandish, as a formula similar to that used with the new Wembley. But the global economic crisis has also truncated the initiative, throwing ground last week, the hopeful agreement reached with IMG, one of the companies that participated in the first contest of projects for the area of Avenida de las Cortes.

When this firm undertook to rent the VIP boxes of Valencia had the significant financial backing from Goldman Sachs, one of the banks that have come out damaged in the United States. According to reveal the Wall Street Journal, Goldman Sachs has closed the fourth quarter with losses of 2,000 billion euros, five dollars per share. Broken the agreement with IMG, Miguel Zori desperately seeking another multinational.

At this point, appeared on the horizon of the legal process of bankruptcy, equivalent to the old suspension of payments. Too many obstacles: the companies that build the new stadium are not paid since April, despite the fact that the Soriano calmed down with a new schedule of payments, and in February we must pay some 40 million to the template.

To exit the passage of speculation, Javier Gomez, chief financial blanquinegro and one of the protagonists in the negotiations with Bancaja, read an official statement yesterday in which the Valencia looked a little tranquility. Gomez stressed that the club “has a definite plan for economic viability,” said it is not in bankruptcy, made a nod to financial institutions that have demonstrated their support “and asked the union of Valencia.

The main gist of it all is that Valencia may be able to obtain the funds they need …

- Valencia’s board will meet this evening at 5 pm Spanish time to decide the future of the club …
The options include selling Villa to Man City for 50 million euros or obtaining financing from Bancaja … fun eh?

- Marca reports today that Premier League clubs Chelsea and Manchester City are interested in in Euro 2008 top scorer David Villa, and that Barcelona are renewing their interest in David Silva, another member of the Euro-winning Spain team.

Other Valencia stars rumored to be the targets for other clubs, are Spanish internationals Joaquin, Fernando Morientes, Vicente Rodriguez and Raul Albiol, plus Portuguese players Miguel, Manuel Fernandes and Hugo Viana.

Wow, what a turn of events.

One day, we’re chatting about Barcelona, the UEFA Cup and our performance against Betis.

Today, we’re talking about liquidating the club’s assets and our viability as a football franchise.

Amazing how things change in a few days …

I’ll be back after the Valencia meeting ends this evening, so make sure to check the site … let’s hope we get some good news and we can focus on what’s most important to us: the football.

Category: Team News

Tags: Team News

Subscribe   The Offside RSS Feeds

Print

Share