Valencia restart work on new stadium

Updated: December 13, 2011

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VALENCIA, Spain (AP) — Valencia says it will restart work on its new stadium after securing a loan from Spanish bank Bankia.

Construction on the new stadium first began in 2007, but the club’s financial problems forced work to be stopped two years later.

The club said that the stadium will be finished in two years’ time.

The loan deal includes Bankia taking ownership of Valencia’s current home ground, Mestalla stadium.

Financial difficulties have forced Valencia to sell a number of players in recent season, including Spanish internationals David Villa, David Silva and Juan Mata.

The club did not specify the amount of the loan.

Valencia is currently third in the Spanish league and is set to join the Europa League.

Copyright 2011 The Associated Press.

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