Valencia President Manuel Llorente yesterday met with Ernesto Valverde to convey a message of reassurance about the club’s situation.
Los Che’s positions of ownership and debt have both been thrown into doubt this week after a court ruling cancelled the local council’s responsibility as guarantor for an €86m chunk of the club’s debt.
Taken out in 2009 by Fundacio VCF, this debt, which the club have defaulted on interest payments on, also accounts for 72.5 per cent shares.
If the city council do not have to take back responsibility – if any expected legal appeals are met – then the shares will in effect switch over to Bankia, who the debt is with.
In response to the uncertainty this has left the club in, Llorente attended training at Valencia yesterday and spoke with Valverde, reportedly to reassure him that the board remain calm, as well as explain the true situation with regards to the latest judicial rulings.
Valverde has been previously reported as reluctant to sign on at the club beyond this summer until the boardroom situation is determined.
