VALENCIA has released a video of restarted work on their Nou Mestalla stadium for the first time in 16 years.
The club was supposed to move into the ground back in 2009, but work was halted after gathering debts of more than £350million.
President Kiat Lim has visited Valencia’s Nou Mestalla stadium[/caption]
Work has restarted on the ground after 16 years[/caption]
The construction site had become a white elephant in the city[/caption]
It is now expected to become one of the best in the world[/caption]
New president Kiat Lim has given the go-ahead for work to resume on the 70,044 capacity stadium.
He visited the construction site for the stadium on Tuesday afternoon.
The aim is for the new ground to open in 2027 and become the future home of Valencia.
It is claimed that the stadium is a “key project” in the aim to generate “new income channels”.
Lim was joined by general director Javer Solis and outgoing president Lay Hoon Chan during the tour.
The club released a video of the group being shown around the building site that would become the new ground.
The clip shows that there is still much work to be done on completing the build.
Seats are needed and a pitch is required to be installed as well as building up the rest of the outside of the stadium.
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The stadium that was expected to be the “best in the world” will have a new design to the existing Mestalla Stadium.
Putgoing Chan boldly proclaimed: “We’re not just building a stadium, we’re building a monument.”
The capacity will be 70,044[/caption]
Valencia has taken out a £270m loan to complete its construction[/caption]
The Singaporean, 60, also added that the stadium will act as a “beacon of hope” for the city.
The 2001 Champions League finalists are working with the same contractor as they agreed a deal with in 2007.
They hope for the new stadium to be ready in time for the 2027-28 season.
Around 3,000 VIP seats will be included, and the stadium will be able to host top events by meeting Uefa‘s highest criteria.
Valencia is said to be taking out a new £270m loan from Goldman Sachs in order to help finance the project.
They plan to begin paying back their loan in 2027, across a period of 20-25 years.
Valencia has so far missed out on being one of 11 host cities for the 2030 World Cup.
But tournament chiefs could slip them in at the last minute, should Nou Mestalla be built according to plan this time.
The stadium will also be used for events outside of football[/caption]
There will be 3,000 VIP seats[/caption]
