By David Gold
December 12 – Spanish side Valencia have struck a deal with Bankia to allow work to be restarted on their new stadium.
The Nueva Mestalla was halted in 2008 because of the club’s financial problems, which have led to the sale of several of their best players, including David Silva, David Villa and Juan Mata.
On their website, Valencia President Manuel Llorente said: “This is an historic day that will delight…hundreds of thousands of Valencia fans, who will soon be able to see their team playing in one of Europe’s best stadiums.”
The news will be a huge boost to a team who have huge debts, which stood at near to €500 million (£423 million/$659 million) last year.
The club have finished third in La Liga for the last two seasons, providing them with crucial revenues from participating in the UEFA Champions League.
The new stadium, which was originally intended to hold 75,000 spectators, could be completed as early as 2013, according to the club.
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