Valencia may be forced to sell players to resolve the club’s financial problems, the Primera Liga side’s new chief executive Javier Gomez has revealed.
Gomez has been promoted to CEO and Spanish media reported it was with the support of Spanish bank Bancaja, the club’s major creditor owed €240m out of a total debt of around €450m.
“The club is in a very delicate situation. It has to control spending, grow income and sell assets,” Gomez told a news conference on Wednesday evening.
Valencia’s prize assets include Spain striker David Villa and international team mate David Silva.
Gomez admitted that the club might be forced to sell players to reduce the debt.
“Obviously we will consider that type of action,” he said. “We have to control costs and the biggest cost in a football club is maintaining a team.”
President Vicente Soriano will continue in the post and he denied he had had his powers diminished by the promotion of Gomez.
Soriano replaced Juan Soler as president last July but his plans to sell the land around the Mestalla to help finance the move to a new stadium that is under construction have not come through.
Valencia, twice Champions League finalists, have been forced to delay payments to their players and construction work on the new stadium has also stopped.
Gomez added: “Before, we had a plan that was based purely on selling the land, now we need to seek alternatives. We need to win back credibility with the financial institutions.”