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Valencia CF President Anil Murthy has stated the club will not deliver a “low-cost stadium” after holding talks with Mayor Joan Ribó over reviving the long-running Nuevo Mestella project.

Valencia’s stadium, the Nuevo Mestalla, was originally under construction in 2009. However, over the last 12 years, due to financial issues and negotiation breakdowns, construction has never been completed and the situation has become known as one of the world’s most notorious stadium projects.

Murthy presented revised plans to a Council delegation led by Ribó, with the club seeking to recommence work on the stadium in order to ensure it retains the advantages granted to it under an ATE construction license given in 2012.

The plans presented to the council include a stadium capacity between 43,000 to 46,000, expandable to 60,000. The stadium would have a second ring dedicated almost exclusively to leisure and restaurant offerings, while the roof will be fitted with solar panels in an effort to drive sustainability.

Valencia Mayor, Joan Ribo:

“Initially it is proposed for a capacity comparable to that which the (Mestalla) stadium currently has (48,500), but expandable to 62,000 spectators. But I think this is not the fundamental element,” he said.

“The fundamental element is the novelty of this second ring that has seemed to me to be a remarkable element that is not in many football stadia. They propose a roof that is made of photovoltaic panels, which is an example at that level that I want to value.

“They have assured us that they have guarantees with the bank where they have the debt, which is now Caixabank.

“They have presented us with a calendar where in June 2022 the works of the sports centre would begin, in October 2022 the start of the works of the stadium and in August 2024 the inauguration of the new Mestalla. The calendar seems realistic and possible, but if it is not met, they will listen to us.”

In December, Valencia revealed plans to use funds from LaLiga’s strategic venture, with global investment fund CVC Capital Partners to help finance the construction of its new stadium. Valencia is reportedly set to receive approximately $189 million AUD from LaLiga as part of the LaLiga Impulso venture. $125 million of which is set to head to the stadium project.

Valencia CF President, Anil Murthy:

“The meeting has been very positive. After the two meetings with the Generalitat, today we have taken an important step by formally presenting the project we have to the important institution, which is the City Council,” he said.

“We have agreed on recommencing work as soon as possible, after presenting the project to the Generalitat and the City Council.

“Nobody talks about a low-cost stadium. It’s going to be a stadium that’s going to give a lot of people a lot of hope and it’s going to mean a lot of investment in the city. It’s going to be something different and something attractive.”