Fundacio VCF chief to resign?

Reports today believe that Valencia majority shareholding company Fundacio VCF’s President will resign if he is not supported on ‘democratising’ the club.

Federico Varona was only brought in as Fundacio VCF’s new President in March, tasked by the local city council to negotiate with Bankia on the group’s €86m debt.

However, Marca believe that he is resolute in polling Valencia’s supporters and actioning the results in the club’s next board meeting, to be held on Monday.

This move, to democratise club policy, with Fundacio VCF holding a majority 72.5 per cent share in Los Che, is seen as not supported fully by the rest of Fundacio VCF, who see it as not a priority and likely to destabilise Valencia’s off-field situation further.

However, Varona is described as keen to push through the plan or resign if he does not receive the rest of his group’s backing.

Tags Bankia Fundacio VCF Varona