Valencia agrees property deal to clear debts

The Primera Liga club shareholders have given their approval to a property deal to build a new training facility and to construct a large number of houses on land in the Ribarroja area near the city. The project incomes which are expected to net the club €100m will be allocated to clear the vast majority of debts. "This will allow us to plan our future with greater freedom and give us more chance of success," said club president Juan Bautista Soler. The club’s financial problems has restricted its ability to strengthen the squad and compete with their rivals in Spain and Europe. 

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