Valencia progress financing of stalled Nou Mastella stadium build

June 5 – LaLiga’s Valencia CF say they have made significant progress in their long-running effort to complete their new stadium following the sale of land around the stadium site.

The club hope the Nou Mestalla, the partially built 54,000+-seat football stadium in Valencia intended as a replacement for their current home, will be finished in time to host 2030 World Cup matches.

The club announced the sale of the land adjacent to the Nou Mestalla to a subsidiary of Grupo Atitlán in a €30 million deal. New plans to get stadium construction back on track were revealed in 2022, with the aim of building a 59,000-seat venue which would be expandable to 70,000.

The next step is to advance the project through the agreement with Atitlan Desarrollos Inmobiliarios, a subsidiary of Grupo Atitlán, for the sale of the land and directly funnelling the money into the stadium’s immediate development.

Thisdepends on the stadium’s completion progress and the approval of all urban planning consents for the venue and the buyer’s planned tertiary buildings.

If it all goes ahead as planned, two skyscrapers will be built on the 40,000 square meters of land that would house a hotel, offices and commercial premises in an effort to provide more pedestrian traffic to the sports venue and boost the plans of having the complex open for 365 days a year.

The club said in a statement: “A process of long negotiations has been completed that represents great progress for Valencia CF towards the objective of resuming and concluding the works of our future Valencian home, also helping to develop one of the main entrances to the city of Valencia, with a project that will undoubtedly contribute to boosting the economy of the area.

“Valencia CF continues to take steps forward to make the Nou Mestalla a reality.”

Javier Solís of Valencia CF added: “The club’s objective is to achieve balance and sustainability. But for all that to be closed, an agreement is needed.

“To resume the works it is necessary to obtain new municipal licenses, approve the urban planning documents and the agreement itself. With it, the conditions will be established for aspects such as the reclassification of the old Mestalla site, the completion of the stadium or the subsequent transfer.

“In this way, the club moves to demonstrate to the institutions its commitment to finishing the works. In addition, the financing obtained from this operation will also help pay for the new stadium.”

Contact the writer of this story, Harry Ewing, at moc.l1721241220labto1721241220ofdlr1721241220owedi1721241220sni@g1721241220niwe.1721241220yrrah1721241220