Valencia take big step towards new stadium LaLiga Agreement with Deloitte to develop the project

On Monday, Valencia signed an agreement with the business consultancy Deloitte to become a strategic ally in the process for their transfer to a new stadium ahead of the 2020/21 season.

This alliance has been brewing in recent months and represents a step forward, as explained by sources at the club, in order for the new Mestalla to be completed in time for that season.

The four fundamental aspects of the agreement are the global financing of the operation, the sale of the land of the existing Estadio Mestalla, supervision of the process of completion of the new stadium, and the business plan and sale of the new ground.

"It is integrated into the logical process that we started with the redesign of the stadium and the processing of modified licenses," Valencia president Anil Murthy explained on Monday.

"We believe that the real estate market has evolved enough to respond to our objectives. Deloitte will lead the global management of this project to meet the deadlines of the ATE.

"In correspondence, we will continue working with the City Council in the processing of modified licenses."

In the case of Deloitte, Gerardo Yague, the partner responsible for the Financial Advisory in the Valencian and Murcia Community, is confident that this is a good time to carry out the sale of the old stadium and the construction of the new one.

"From the point of view of the real estate and financial markets for the sale of the club grounds, and for the global financing of the project, the markets are at the right moment which should allow us to carry out the project in an orderly manner," Yague said.

"This gives stability to the club and a long-term project vision."