Valencia president Anil Murthy has admitted the club face a difficult season but insists that the club have had to make tough decisions to avoid bankruptcy.
The fire-sale follows the club’s failure to secure European football for next season, meaning that a vital revenue stream has disappeared for the club while the financial ramifications of the Covid-19 pandemic also remain unclear.
Reports mean that the financial uncertainty means Los Che must slash their wage budget by a whopping 40 percent ahead of next season, with 12 first-team players at the club said to be up for sale this summer.
“We are preparing for a difficult season and Valencia will not be the only impacted club,” Murthy told The Straits Times in Singapore, in quotes carried by Diario Sport.
“We are going to have a difficult season due to Covid-19, so we must be responsible and control costs in a way strict. What good is a bankrupt club?
“If things go badly financially due to Covid-19, all clubs will be in trouble. We have to lead through responsible management during the Covid-19 crisis.”
Unsurprisingly, Murthy also backed the club owner Peter Lim, who has often been the ire of fan criticism including an organised protest from supporters on Wednesday night.
“Before Peter Lim took office, the club was unstable,” Murthy added. “We are in this in the long term to turn Valencia into a stable and successful club.
“We accept that we can make mistakes, but we will always work to guide the club so that it returns the best again.”