Valencia renegotiating Bankia loan

Valencia President Manuel Llorente is once more today reportedly talking with Bankia officials to renegotiate repayments on part of their debt.

The club owe a total of around €380m to various banks, accumulated predominantly through Fundacio VCF’s takeover bid of 2009 and the club’s funding for construction of the Nou Mestalla.

Whilst city authorities have taken responsibility on repayments for the €86m owed by Fundacio VCF, President Llorente is reported today as in Madrid negotiating with Bankia officials over the €200m that they specifically owe them in relation to Nou Mestalla funding.

Superdeporte report that Llorente is cautiously optimistic of reaching an agreement with Bankia over a repayment structure to last between 15 and 18 years, with specific annual repayments of the debt and its interest one of things being discussed today.

The club are believed to otherwise be expected to meet a repayment of between €20m and €25m on the debt during the next year.

Tags Bankia Debt Manuel Llorente Mestalla Nou Mestalla