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Spanish media: Valencia has received a loan of 65 million euros from Goldman Sachs to ensure the funds needed for the construction of the new stadium
Published:
2025-05-22
Live5 May 22nd - According to Spanish media elconfidencial, Valencia Club has secured the funds needed to complete the construction of the new Mestalla Stadium.
According to informed sources, the sports company owned by Singaporean tycoon Peter Lim and the US investment bank Goldman Sachs are about to reach a bond issuance agreement of approximately 240 million euros with fixed-income institutional investors in the United States. The deal is expected to be signed this Thursday, although the club has not made an official comment on it yet and said it will announce it after the formal procedures are completed.
As a payment guarantee, the sports company promises to use its future operating income and fixed assets as collateral. Last November, the club released the mortgage on the old stadium through refinancing, involving an amount of 121.3 million euros, with Goldman Sachs acting as the agent.
In the previous financing, American pension funds were also involved. In addition, Valencia has directly obtained a transitional loan of 65 million euros from Goldman Sachs and plans to repay it after the issuance of the second bond.
Debt restructuring has improved the repayment period and interest costs, with the average annual interest rate dropping to 6.53% and the principal grace period exceeding two years (up to January 2027). After restructuring the "historical" debts, the sports company sought market resources to cover the remaining costs of the new stadium construction.
The journalist Hector Gomez disclosed this news in advance. As the season draws to a close, Valencia has secured its place in La Liga. Due to the downgrade risk, Goldman Sachs and Valencia had to increase the protection terms for investors.
However, the amount of the second bond is still lower than the 325 million euros claimed by the club, so a third round of negotiations may be needed in the future. With the addition of new financial operations, Valencia's net debt may exceed 500 million euros, including 80 million euros invested by CVC for the resumption of construction.
The club believes that borrowing is the key to completing the entire project. Once the new Mestalla Stadium is built and all assets are sold, the debt service will be lower than the 38 million euros of the previous fiscal year, while the revenue will be higher than the current level.
Some fans oppose the relocation, considering it a speculative act and hoping to preserve and renovate the existing stadium. But the urban planning promises made nearly two decades ago have complicated the fallback. To partially repay its debts, Valencia plans to sell the existing stadium land, commercial land near the new stadium and the office building beside the old stadium. The price increase in the real estate market may raise the value of the old stadium land, which is currently valued at over 120 million euros.