Valencia FC latest victim of Spanish property crisis

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This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 8 years, 9 months ago.

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  • #53722
    Profile photo of Anonymous
    Anonymous
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    Valencia Football Club is the latest victim of Spain’s property crisis.

    It’s a bit of a tradition in Spain for wide boys from the property sector to buy football clubs, the best example being the late Jesus Gil, once mayor of Marbella, who bought Atlético Madrid. Valencia FC is dominated by the Soler family, big in property, who have played the usual property speculation game with the clubs grounds, and racked up massive debts in the process. Now the property market has seized up, they find they can’t sell the blocks they built on the club’s old pitch in Mestalla. And Valencia FC ain’t putting the ball in the back of the net either. You have to have deep pockets and a big ego to own a football club, because, as we all know, football clubs just burn cash. With so many clubs belonging to property trash, I wouldn’t be surprised if we see a few more clubs up for sale in the not too distant future.

    Mark

  • #79313
    Profile photo of Inez
    Inez
    Participant

    Including the odd one in the UK. Better not say more!!

  • #79318
    Profile photo of Anonymous
    Anonymous
    Participant

    Story in the Spanish press that the Soler´s are talking with the ex CEO of Telefonica and partners,fotr the sale of the club only a prelim stage.

  • #79478
    Profile photo of Anonymous
    Anonymous
    Participant

    Talking of football clubs, looks like Juan Antonio Roca even had a finger in that pie too.
    He’s to appear in court on Wednesday after a police report linked him to ‘dealings’ in the Xerex football club between the years 2002 and 2004.

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