![]() ![]() From now on, other alternatives are opened to carry out the project as a whole, which means completing the construction of the new stadium.” Of course, ADU will continue working to try to find the financial guarantees that Valencia CF demands and needs. Murthy added, “We do not want to sell false expectations. For this reason, it is evident that we cannot maintain the exclusivity of this project, something that we have already formally notified you of.” Remarked Valencia President Anil Murthy, “Unfortunately, it means that they ( ADU) cannot comply with the purchase conditions that we had agreed upon, they have told us that they cannot and they are looking for alternatives. ADU will be at liberty to look around for adequate financial guarantees for its residential project. On the contrary, the company is working with an American fund to oil its financial wheels once again.Īs the deal now stands terminated, Valencia is examining different options for a new stadium. However, the deadline lapse does not mean ADU is no longer interested in the transaction. Way back in 20, more than 20 investors had reportedly evinced keen interest, but with the current COVID-19 situation, it is doubtful how many investors would come forward to pick up the tab. Valencia CF can now keep their doors open for talks with other entities once more. With the deal put off, ADU no longer enjoys the exclusive rights to buy the land with Estadio Mestalla. However, ADU failed to secure financial guarantees for the €113 million transaction.ĪDU informed the club that the coronavirus scourge has come in the way of its efforts to provide financial guarantees. The club was supposed to seal the sale of Mestalla to ADU Mediterráneo, based on agreement reached in May 2019. March 31 was supposed to be a major date in the history of Valencia CF. ![]()
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