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The champion team of Spain announced that they have decided to demolish the Mestalla stadium, where they have been playing for almost since the club was founded, and temporarily move to another city square until a new stadium is built.
The main reason for this decision is the club's debts, which currently amount to 90 million euros. The "Valencia" team also plans to build a residential complex in the place of the demolished stadium. The projected revenue should reach 300 million euros, with half of this amount being allocated to the construction of the new stadium.
The current "Mestalla" stadium accommodates 55 thousand fans, while the planned capacity of the new arena is 70 thousand. The construction of the new stadium is expected to start within the next 3-4 years and be completed by 2009.
"Our team is the ambassador of the entire Valencia region," said the team's president Soleras, who recently replaced Jaime Ortí in this position. "When people talk about Valencia, they primarily mean the 'Valencia' football club. Of course, it is very difficult to say goodbye to the Mestalla stadium, as it is part of the club's glorious history, but I believe that with the new arena, we will start a new era in football."
