By Monica Villar
May 2 – The new President of the Valencia Foundation, Aurelio Martínez thinks Valencia CF should copy German team Borussia Dortmund’s economic and sporting model.
Aurelio Martínez, who was previously vice-president in charge of the commercial department, has insisted he has taken the presidential role “for the next four or five months” only – he says he is more comfortable in the commercial department. But he does feel that in this time as president he can start paving the way towards Valencia’s economic recovery.
Martínez’s restructuring plan revolves around the completion of the new Mestalla stadium – work has been halted on this stadium for more than four years – and renegotiating Valencia’s loan with Bankia, both Valencia CF and the Foundation’s biggest creditor, which the Valencia Foundation hopes to pay back over 15 or 20 years.
The new President has said that in the coming weeks he will hold talks with different investors to put the building of the new Mestalla stadium back on track. Negotiations with the bank are heading in the right direction, with both keen to keep negotiations positive.
Both Bankia and the Valencia Foundation feel it’s necessary to attract foreign investors if the club is to stabilise and become profitable. In preparing the way for foreign investors, Martínez has commissioned an external independent audit covering both the club and the Foundation’s current economic situation.
Martínez who is a former Minister of Finance and Economy, also feels it’s important to dispose of certain assets, including the current Mestalla stadium.
The financial model the Spanish club is looking towards is the one that has proved so successful for Germany’s Borussia Dortmund. But it was not always easy for Dortmund.
In 2005 the German giants were on the verge of bankruptcy after being the first team to list on the German stock market. The listing didn’t pay off, and shares plummeted by more than 80%. Poor commercial management – coupled with the fact that they had signed foreign players on big salaries – forced the club to start investing in home-grown talent.
The BVB academy was founded in 2011, which has given Dortmund players like Mario Gotze. With an upcoming Champions League final against home rivals Bayern Munich, the lessons learned by Dortmund have not gone unnoticed by the Spanish.
Contact the writer of this story at moc.l1745281999labto1745281999ofdlr1745281999owedi1745281999sni@r1745281999alliv1745281999.acin1745281999om1745281999. Monica Villar is news editor of leading Spanish football website www.laliganews.tv