Countless unfulfilled promises have meant that neither the residents nor the municipal authorities believe the declarations of the Bats' authorities. This seems to have finally reached the club's representatives, who have sold some of the land around the Nou Mestalla to provide funds to complete the facility itself. Despite this, many still do not believe in the sincerity of their intentions.

€110m to complete Nou Mestalla

At the end of May, Valencia CF announced the sale of the land adjacent to Nou Mestalla to Atitlan Desarrollos Inmobiliarios. This is the culmination of a long negotiation process that represents a major step forward for Valencia CF towards the resumption and completion of its future headquarters [...] Valencia CF is taking the next steps to make the Nou Mestalla a reality.

According to El Español, the club has €110 million - €80 million from the CVC fund for the development of sports infrastructure and around €30 million from the sale of land (€35 million according to El Desmarque) - which it intends to use to complete the construction. In December, the club's president, Lay Hoon Chan, asserted that around €170m was needed to complete the work.

Caixabank, which has assured the club's solvency while offering a bridging loan that will allow the club to quickly resume work that has been stalled since 2009, could help. Valencia CF's corporate director Javier Solís, quoted by El Desmarque, assured that the club is awaiting the agreement and is determined to resume work. The funds generated by this operation will also help pay for the new stadium. - Solís stressed.

© Valencia CF

"It doesn't change anything"

The reality, however, is that, as El Español reports, politicians fear that the real aim of club owner Peter Lim is to increase the value of the land where Mestalla is situated by obtaining preferential terms, including planning permission for more buildings and the creation of a service zone on the site, along the lines of a deal about a decade ago. The club did not respond to our question about the veracity of these allegations.

Members of the ruling coalition - the centre-right People's Party and the right-wing VOX - have announced that they are working on a solution to prevent the extension of the preferential terms. This follows the rejection of the opposition’s idea to make the club pay a deposit equal to the stadium's remaining costs to guarantee its completion. The ruling majority argued that such an arrangement was illegal.

The city's mayor, María José Catalá, said in an interview with COPE that the sale of the land by the club changes nothing. All I want is for Valencia's owner to honour his obligations to the city and not regain preferential terms on 3 August. I don't want anything else. And I will use any means that will get me there. - added the mayor.

© Valencia CF

Time is running out…

Why is the date of August 3 so important for the Mayor of Valencia? That is when the deadline expires, after which, in the absence of enactment of appropriate solutions, Valencia CF will be given a free hand, something that all political forces fear. Therefore, the coalition partners are expected to present another proposal to solve the problem in June or July.

On Monday, VOX presented its own idea, as reported by El Desmarque. The party's local leader, Juanma Badenas, said that VOX allowed for two solutions - either Valencia would raise all the funds needed to complete the work before it resumed, or it would not receive preferential terms until the Nou Mestalla was ready. However, he said he would support the Nou Mestalla project if the club met these requirements.

© Valencia CF

... while the World Cup awaits

According to El Desmarque, time is not running out for Valencia's candidacy to host the World Cup. Although an official list of cities and venues to host the 2030 World Cup has long been expected, the organisers seem to be holding back a decision, waiting for developments in Spain's third largest city.

Meanwhile, the lack of support for the club's buyout initiative and the departure of the movement's leader, Juan Martín Queralt, led to the dissolution of De Torino a Mestalla, a fanbase platform in opposition to Lim. In the past, it has attempted to raise funds to buy back the club from a Singaporean businessman and has taken legal action against the club.

The story of the Nou Mestalla is one of unrealistic dreams crushed by reality and years of hype announcements. Nevertheless, quiet hope arose recently in the local media for an end to this soap opera, and the steps taken by the club indicate a real desire to resume work. Importantly, action is finally moving beyond mere declarations.