Valencia’s financial problems continue to rumble on.
The East coast club have been hit hard by financial issues during recent years with Peter Lim unable change the club’s financial fortunes.
The issues are the main reason behind the Nou Mestalla stadium remaining unbuilt, and things are not getting better on the balance sheet.
As stated in a press release this morning, Valencia have confirmed losses of €31.2million.
They also project losses of €36million for this season, and they have already counted on earning €37million from player sales before June 30.
Owner Lim has already loaned the club €38million, though they will not have to pay that back.
Lim has accepted the proposal of that loan being turned into capital. That means that, instead of receiving his money back, Lim will get his money’s worth in shares and his ownership stake will increase.
The news is yet another concern from Valencia fans, many of whom are unhappy with how the club is being run under Lim’s guide.
Though, of course these figures will have been impacted by the pandemic and the subsequent loss of revenues.