On Tuesday, the Valencia, Spain Ayuntamiento (City Council) and La Liga side Valencia signed a deed exchange agreement for the land upon which the club's new stadium will be built. Signing the documentation on behalf of the club was Exec President Amadeo Salvo and Dir Kim Koh, while Town Planning Councillor Alfonso Novo signed on behalf of the Ayuntamiento, with Secretary Manuel Latorre as witness. This agreement is a key step toward the beginning of construction work for the club's new stadium. Salvo said, "We are very pleased with this agreement. When you come to an agreement like this, it means that both parties are satisfied. It is the first action that we needed to carry through in order to complete the new stadium. It demonstrates the commitment of Valencia CF and the club's owner, Peter Lim, to making this club -- the biggest sporting institution in Valencia -- viable. ... We are already working on designing -- or redesigning -- the new stadium. It is a project from 2004, 2005 or 2006, 10 years ago, and many things have changed on a constructional level, an architectural level, an engineering level, a technological level and in terms of the requirements of FIFA and UEFA. ... Our intention remains to make the stadium available for the club's centenary in 2019" (Valencia).
