Land sale boost for Nou Mestalla stadium

Article posted by Coliseum, June 3^rd, 2024

Image: Nou Mestalla, Joanbanjo, CC BY-SA 3.0

Spanish La Liga club Valencia CF believes it could have made a breakthrough in its long running bid to complete its new stadium after land around the stadium site was sold.

2playbook said Valencia CF is beginning to move forward to unblock the situation with the Nou Mestalla stadium and aspire to host the 2030 World Cup.

The club has announced the sale of the land attached to the Nou Mestalla to a subsidiary of Grupo Atitlán in a €30 million deal. The money will be spent on the new stadium.

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Nou Mestalla is a partially built 54,000-seat football stadium in Valencia, Spain, intended as a replacement for Valencia CF’s current stadium, Mestalla Stadium. The basic concrete structure of the stadium was built between August 2007 and February 2009, but work was then halted for financial reasons.

New plans to get stadium construction back on track were revealed in 2022, with the aim of building a 59,000-seat venue which would be expandable to 70,000.

The club is now hoping once again to push the project forward with the agreement with Atitlan Desarrollos Inmobiliarios, a subsidiary of the Grupo Atitlán, for the sale of the land around the new stadium.

The fund headed by Roberto Centeno, club owner Juan Roig’s son-in-law, will take over the commercial land of the new stadium.

The operation is subject to the progress of the works for the completion of the stadium and the approval of all the urban planning consents for the development of the venue and the tertiary buildings planned by the buyer.

Plans call for two skyscrapers to be built on the 40,000 square meters of land that would house a hotel, offices and commercial premises. These would provide more pedestrian traffic to the sports venue and boost the plans of having the complex open for 365 days a year.

The club said in a statement: “A process of long negotiations has been completed that represents great progress for Valencia CF towards the objective of resuming and concluding the works of our future Valencian home, also helping to develop one of the main entrances to the city of Valencia, with a project that will undoubtedly contribute to boosting the economy of the area.

“Valencia CF continues to take steps forward to make the Nou Mestalla a reality.”

Javier Solís of Valencia CF told 2Playbook: “The club’s objective is to achieve balance and sustainability. But for all that to be closed, an agreement is needed.

“To resume the works it is necessary to obtain new municipal licenses, approve the urban planning documents and the agreement itself. With it, the conditions will be established for aspects such as the reclassification of the old Mestalla site, the completion of the stadium or the subsequent transfer.

“In this way, the club moves to demonstrate to the institutions its commitment to finishing the works. In addition, the financing obtained from this operation will also help pay for the new stadium.”

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