Valencia have been given a significant cash boost which they hope will stabilise the club.
President Manuel Llorente has confirmed that a loan of €74million has been arranged which equates to a 72.5 percent stake in the club.
Local bank Bancaja has agreed to lend the cash to the club, with the loan being guaranteed by the Valencia regional government, the Generalitat.
“From this point a new era of stability begins and the players can concentrate fully on their game,” Llorente said in a statement on the club’s official website.
“We have saved a very difficult and worrying situation.”
Valencia’s foundation plans to make shares available to those who had not been able to take part in the initial buy-out.
“At last the club is being returned to the Valencia fans,” Llorente added.
Valencia’s debts of some €500m euros (£434m) are on a par with those of Real Madrid and Barcelona yet they lack the earning and borrowing power of the two clubs.