Free Live Odds - Scores and Odds - Sports News - Sports Information - Live Scores - Sports Statistics - Sports Articles - Sports Standings - Live Scor

O&N HOME | NFL MLB NBA NHL NCAAF NCAABk Nascar Golf Soccer Tennis Boxing Horse Racing All Sports

Valencia denies bankruptcy claim

Wed 3rd, December 2008

Valencia, Spain (Sports Network) - Valencia have dismissed reports that the club is on the verge of bankruptcy following a worsening of their financial situation.

The 2002 and 2004 Spanish champions are reported to be almost $822 million in debt and have failed to agree an emergency rescue package with a local bank.

However, the club's general director Javier Gomez has rubbished suggestions of an impending financial meltdown at the Mestalla.

"I want to state the following: in first place, what is utterly false is that the club is in bankruptcy," he said.

"Secondly, we are working hard to implement a viability plan that will give economic and financial stability to the club and that, obviously, has its difficulties.

"We are working on the economic viability of the club. It's having it's difficulties, as do all businesses. We are working on it and we hope to achieve it."

(Courtesy of sportbox.tv)