A report in Spain is suggesting that Manuel Llorente will this afternoon announce his resignation as President of Valencia.
Llorente, who has been at the club since 2009, is seen as unhappy with the change in President at Fundacio VCF this week, in light of their struggles to finance an €86m debt to Bankia.
Fundacio VCF hold 72.5 per cent shares at Valencia and Llorente is now answerable to the group’s new President Federico Varona.
Reports this morning suggested that Llorente’s decision to appoint 15 club representatives to Fundacio VCF’s board, as was his prerogative, was a response to losing influence with the group’s previous President.
Following on from this, Cadena SER are running the line that Llorente will use an afternoon Press conference today to announce his decision to step down from his position at Mestalla.
The President, who has reduced Valencia’s debts from around €540m down to €360m, has previously faced protests from fans this season to leave.
