Salvo optimistic for Valencia ‘solution’

Amadeo Salvo has spoken of his optimism at an agreement between Valencia’s majority shareholders and the banks being reached.

Los Che’s status of ownership is once more under scrutiny after majority shareholders Fundacio VCF failed to meet a full payment of interest on a 2009 loan taken out with Bankia to fund their takeover of the club.

Uncertainty surrounds where this leaves the club, with Bankia still appealing a court ruling that currently prohibits Valencia’s city council from acting as guarantor on the €86m loan, as previously agreed.

Subsequently, parties from the city council, Bankia, Fundacio VCF and the club, including recently elected President Salvo, have met to resolve the situation.

“It was a very positive meeting between all parties, the council, Bankia, Valencia and Fundacio VCF” Salvo reflected to reporters today afterwards.

“We will try to find an interim solution together. We are all aligned on the same thing, that Valencia is a very important entity that will meet all its commitments and will continue as it is. And we communicate that we hope to soon have a solution and that of course it will not take a single euro of public fund to finance anything to do with Valencia.

“Now? There is a provisional solution reached. Valencia is an organisation with extensive viability and a future. The government does not have to pay a euro and, whilst we are awaiting judgment [on Bankia’s appeal], that does not mean that we should not look for a solution.”

Tags Bankia Fundacio VCF Salvo