Wednesday, 3 December 2008

Financial Crisis Drag Valencia In To Death Hole...

Valencia have hinted that they could take legal action after accusations were made that the club were facing bankruptcy. And they have explained that there is a plan in place.

Valencia Play Down Financial Crisis

Los Che were said to be in talks with Bancaja in a bid to stave off any problems that could lead to the players not receiving wages in December. There were also suggestions that they had to pay a huge sum by the end of the year.

While the club did not deny that they are having to manage a delicate financial situation, president Vicente Soriano said that things were nowhere near as bad as the media were portraying.

"The club has a perfectly defined, economically viable plan," he told the club's official website. "The president, the directors, the executives and the employees of the club all continue in their task of guiding Valencia towards economic stability.

"We would ask everyone to continue working with tranquility and serenity."

Talk of bankruptcy and problems meeting payments to staff and creditors clearly upset the club and Soriano warned against the press running any further stories of that nature.

"There have been some terms used that have irresponsible, and for that reason we also reserve the right to take legal action if it is deemed necessary," he continued.

"We want everyone to be united in order to maintain the great form of the team and to continue enjoying the fruit of all the good work done by the players and coaching staff."

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