Valencia denies bankruptcy claim

Soccer Betting Lines

12/03/2008 - Valencia, Spain (Sportsbook Betting Lines) - 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)

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