Saturday, April 11, 2009

Valencia receive loan boost

Valencia receive loan boost
Valencia have received a loan of 50million euros to ease their financial worries.

Reports recently suggested the Primera Liga club had a total debt of around 450million euros (Ј410million).

They had to suspend payments to players in February, while construction work on the new stadium also had to be halted.

Chief executive Javier Gomez even admitted that Valencia could be forced to sell some of their biggest stars to raise funds.

However, they have now been boosted by a loan and are planning a capital increase to help them through the troubled times.

Gomez made the announcement to players on Friday and key striker David Villa was delighted to hear the news.

"It's positive and major news for everyone," said Villa.

"We only have 10 matches, and what we can do to help the club economically is to qualify for the Champions League."

Valencia have endured a difficult campaign on the pitch as well as off it and a lack of consistency has left them sixth in the table.




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