Spanish LaLiga football club Valencia has presented what is expected to be the definitive plan to restart the dormant Nuevo Mestalla stadium project.
Valencia yesterday (Tuesday) outlined the club’s response to the request by the plenary session of the Generalitat Valenciana, made on December 16, for a financially guaranteed proposal for the completion of the new stadium and the meeting of provisions under an ATE construction licence that was first granted in 2012.
Valencia president Anil Murthy last month maintained the club would not deliver a “low-cost stadium” after holding what he described as positive meetings with Mayor Joan Ribó over reviving the mothballed Nuevo Mestalla.
Construction work on the Nuevo Mestalla was suspended in February 2009 and the venue has since become one of the world’s most notorious stadium projects.
Valencia has now said it has “all the ingredients” to restart construction work in October, and a “complete predisposition” to jointly make this project a reality for the club, its fans, citizens of Valencia and residents of the Benicalap district.
Valencia said in a statement yesterday: “The construction of the new stadium is a great growth opportunity for Valencia CF, who over recent months have presented a concept to the Generalitat Valenciana and Ayuntamiento de Valencia city council that will maintain the characteristic features of the current Mestalla stadium, whilst having greater utility on non-match days and a clear commitment to technology and innovation that will make it a more experiential stadium for fans.”
The new stadium project, which Valencia said it will present to its fans in more detail upon receipt of the relevant licenses from the administration, is inspired by the city and Mediterranean culture and is based on three strategic pillars. These are that it will be a memorable experience adapted to lifestyle; connectivity and innovation; and hospitality and MICE (meetings, incentives, conferences and exhibitions).
Valencia said it has worked to offer a unique project, with the second tier of the Nuevo Mestalla dedicated to leisure, restaurants and hospitality areas, that will become a “point of reference” in Spanish football and the city.
The new stadium will begin with a capacity comparable to that of the current Mestalla, around 55,000, with the possibility of a “flexible and fast expansion”, subject to demand, to up to 70,000 seats.
In addition, Valencia is seeking out a technology partner so that the project can become 100% sustainable, with a complete solar roof being planned that will provide green energy for not just the stadium, but also the local neighbourhood.
Valencia said construction of the Nuevo Mestalla, for which €172m (£143.5m/$188.7m) has already been invested, will reach €287m by its opening and will exceed €350m once the entire project is completed.
Valencia in December revealed plans to use funds from LaLiga’s new strategic venture with global investment fund CVC Capital Partners to help finance the construction of its new stadium. Valencia is set to receive approximately €120.7m from LaLiga as part of the LaLiga Impulso venture, €85m of which is set to head to the stadium project.
Completion of the new stadium is projected within 20 to 22 months from the moment the work restarts.
Images: Valencia CF