Spanish La Liga club Valencia CF have enlisted heavyweight consultants Deloitte as they look to push ahead with a move to a new stadium.
Deloittewill be responsible for the overall business plan, including the sale of assets, restructuring of debt and financing of completion of the new stadium
The agreement between Valencia CFand Deloitte, which has been finalised in recent months, is a key step forward for Valencia CF’s future stadium. Plans are for it to open for the 2021/22 season. The proposal encompasses these four fundamental aspects:
- Global financing of the operation;
- Sale of the current Mestalla stadium site;
- Supervision of the process of finalising the new stadium;
- Business plan and sale of services in the new stadium.
Valencia CF president Anil Murthy said:
We believe the real estate market has evolved sufficiently to meet our objectives. We chose the best professionals to work with us and today we join up with Deloitte, one of the largest consultants in the world and with a lot of experience in managing large scale projects.
With Valencia CF, Deloitte are going to lead the global management of this project to meet the STA timetable. At the same time, we’re going to keep working with the Town Hall in the issuing of the modified permissions, once we have them all we can begin the works.
Plans to develop a Nuevo Mestalla stadium for Valencia have been dragging on for years, with the venue initially slated for opening in 2009/10.