Valencia’s majority shareholding group Fundacio VCF have seen their President Federico Varona resign after just two weeks in charge.
Varona was brought in to head the group’s city council-requested change in management, in the wake of their having defaulted on an €86m debt to Bankia. Who is accountable for this debt is still pending a court ruling.
His arrival prompting the resignation of Valencia President Manuel Llorente, Varona was reportedly intent on ‘democratising’ the club and how its board members are elected and was seen as threatening to resign if he did not have the support he wanted.
This week, after just 13 days in the role, Varona has confirmed that he is ‘irrevocably’ walking away.
“During this time I have suffered personal attacks, insults and vilification that, in many cases, has come from people who do not know me,” a statement from Varona explained.
“I am not willing to take the personal and professional wear that I have been subjected to. We had a strong roadmap that was cut unexpectedly by the former President’s decision to leave Valencia.
“This stage was not in our plans. I came to work with great enthusiasm and really the development of events has prevented me from this.”