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Valencia CF has obtained funding for a total of 322 million euros ($ 377 million) for the development of the Nou Mestalla stadium, the Spanish football club said on Thursday.
The loan, including 237 million euros of notes and 85 million euros in a short -term loan, is one of the largest transactions ever completed by a professional football team in Spain and throughout Europe, said Valencia in a note.
“Assuming this reference financing gives us the green light to deliver Nou Mestalla-One Stadium worldwide that will feed the growth of the Club for generations,” said Kiat Lim, president of Valencia CF, in the declaration.
Lim is the son of Singapore billionaire Peter Lim, who is the owner of the majority of the club.
The stadium, which is located in the city of Valencia and will have over 70,000 seats, is scheduled for 2027 and should multiply the revenues currently generated in its old metal structure.
“Given the expanded hospitality, the greatest capacity and hosting of multipurpose events, the first estimates suggest that we will be more than tripling current revenues,” added Lim.
Valencia CF was recommended by Bibium Capital, Addleshaw Goddard, Beka Titulizacion and Goldman Sachs (GS.N), opens a new card, with the Liga of Spain providing support for the club in the process, according to the declaration.
