Bankia puts Valencia FC up for sale

Bankia put Valencia FC up for sale. They have argued that the most viable alternative is seeking investors to guarantee a good sport, social and economic project.

The footbal club has a multi-million-euro debt and is unable to pay it off. The chairman, Amadeo Salvo, said that they were trying to find a way to restructure the debt and avoid the sale. He also stressed that whoever bought the Club needed to be "someone prepared to make a good team and finish building the new Mestalla stadium". 

Bankia has said that Valencia FC has so far failed to find a solution for its problem. Salvo also said that "if someone wants to sell the Club, they will need to convince the shareholders here present, because all shares in Valencia FC belong to us". 

Picture of the general meeting of the Valencia FC