Valencia’s majority shareholders Fundacio VCF have confirmed their new President, who wants to copy Borussia Dortmund’s financial model.
The majority shareholders of Los Che held a board meeting on Monday evening to confirm Federico Varona’s resignation after just two weeks in the job and to promote financial Vice-President Aurelio Martinez to the role, at least temporarily.
In taking the role ‘only for four or five months’, Martinez outlined yesterday a strategy yesterday to help the club repay their debts to the banks, upwards of €380m, with completion on the Nou Mestalla seen as key to that.
Martinez also outlined that the club can take encouragement in a financial model similar to that adopted by Borussia Dortmund, who have gone from bankruptcy in 2005 to League titles in 2011 and 2012 and the Champions League semi-finals in 2013.
