To build sustainable club and keep it growing takes time, say Valencia's top management.
SINGAPORE:"A bankrupt club is not a better club," said Valencia's Singaporean billionaire owner Peter Lim in a statement issued on the club's website on Saturday .
In the statement, Valencia's top management said one of the biggest concerns among the club's shareholders was the"growing size of debt in 2018/19 and 2019/20, mainly due to the signing of players and the related costs".The management said that in 2017 and 2018, after nearly a decade, Valencia had started paying back the banks, who were"finally happy" and"trusted that this version of Valencia CF would be sustainable".
"We were again trying to offload young promising players from the VCF Academy from the squad to make space for others - regardless of their future value for the club. "We finished ninth this past season. We are not in the Champions League. So we have to rebuild. This is neither the beginning, nor the end. We must learn from the past. Pushing to have a 'big stadium and big name players, winning La Liga and the Champions League at all cost' will lead to a repeat of the past," said the club.Valencia's top management addressed two issues in the statement, indicating "full transparency".
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