Valencia CF wish to provide the following information regarding the binding offer presented by ADU Mediterráneo S.L. for the acquisition of the land where Mestalla is currently located:
1. Both parties, by mutual agreement, have agreed that the circumstances for the formalisation of the operation are not in place, since the material conditions agreed for its execution in the anticipated timeframe have not been met.
2. Said termination of the binding offer is effective immediately, and also concludes the period of exclusivity in negotiation for the sale operation enjoyed by ADU.
3. Valencia CF will now analyse different alternatives, with the objective of carrying out the complete operation -including the resumption of construction work at the new stadium.
4. Without prejudice to this, ADU will continue to look for the adequate financial guarantees for its project, with the aim of being able to reach in the future, where appropriate, a new agreement with Valencia CF that is satisfactory to both parties, albeit without exclusivity in negotiations from this moment forward.
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