Valencia have presented their revised plan for finishing work on the Nou Mestalla, announcing a budget cut of €60m.
Club President Amadeo Salvo and the Valencia board have worked to reduce the costs required to complete work on Los Che’s new ground, which has stalled in recent years amid growing debt.
At a presentation to the media today, the club have announced where those cuts have taken place, with some adjustments to the originally planned stadium, resulting in the budget significantly dropping.
“To date, some €98m has been spent and the initial budget to finish it was €160m,” the project’s chief architect Mark Fenwick told reporters.
“After these months working together, we have reduced the cost by €60m, so it will take about €90m to finish the project.”
The revised plan sees the capacity dropped from 75,000 to 652,000, the number of parking spaces under the stadium also reduced, the roof redesigned and interior spaces such as VIP boxes left incomplete until sold.
“Every seat will cost €3,000, which is nothing when for example, the Allianz Arena was €8,000 per seat and the new Wembley was €12,000 per seat.
“For that reason, I believe that this is a viable project that will create one of the most spectacular venues in the world.”
President Salvo also commented on the Nou Mestalla, although declining to confirm any dates planned for the work.
“Since the arrival of this board, we have worked hard to carry out one of the great goals of the fans, which is to see the completion of the Nou Mestalla,” Salvo stated.
“Our goal is to find solutions and seek investors for an objective that the future of Valencia depends on at all levels - sporting, social, institutional, economic…
“The fans and Valencia will have a five star stadium, suited to current realities, but that will be the pride of all of us.
“It is the only stadium under construction in western Europe and we have a great opportunity to finish it.
“Now we have a clear plan and, from now on, we will look for investors who want to invest in us.”