La Liga: Valencia CF sign an agreement with the city for the land to the Nou Mestalla stadium

Valencia CF (Liga BBVA) signed an agreement with the City of Valencia (ESP), and now become the owner of the site of the Nou Mestalla stadium, whose construction has been halted since February 2009 for lack of funds, announced the two parties on 10/03/2015. The total value of the agreement amounts to €45.4m -- from the club to the city -- which Valencia CF will pay in the form of a transfer to the city of 30 club-owned plots with a total value of €25.6m, and repayment in cash of the remaining €19.8m by 15/03/2024.

At the signing, the Valencia club made an initial payment to the city worth €990,846 which represents 5% of the €19.8m cash to be paid. "It is a project from 2004, 2005 or 2006, ten years ago, and many things have changed on a constructional level, an architectural level, an engineering level, a technological level and in terms of the requirements of FIFA and UEFA. We have to draw up this project and we will take a few months in doing so -- we do not know how exactly how long -- but our intention remains to make the stadium is available for the club’s centenary in 2019,…