DLA Piper has advised a consortium of institutional investors and banking entities, led by Goldman Sachs as coordinator and placement agent, on a €332 million financing deal aimed at driving forward the construction of Valencia Club de Fútbol’s new stadium.
The financing has been structured through a Spanish securitisation fund, using a novel and complex structure in which the entire future business linked to the Nou Mestalla has been securitised, taking into account the future developments surrounding Valencia CF’s new stadium.
This operation complements a recently secured financial package for the club, which includes a €121 million long-term corporate credit facility and a €65 million short-term bridge loan, further strengthening its strategic roadmap and accelerating its transformation.
The Nou Mestalla will hold FIFA’s highest stadium category, with capacity for more than 70,000 spectators, and will offer a wide range of services for both match days and non-match days, comparable to other recently modernised stadiums.
The DLA Piper team advising on the transaction was multijurisdictional, led in Spain by Andrés Lorrio, Capital Markets partner in Madrid, and in the UK by Charlotte Lewis-Williams, Finance partner in London. The team also included Tony López, senior counsel in New York; Jesús Zapata, Finance partner; Francesco de Micheli and Alberto Rubio, both senior Finance associates; Natasha Chong, Simran Bal, and Sara Espina, Finance associates; and Diego Sánchez, Capital Markets associate.
Professionals from other practice areas were also involved in specific aspects of the deal, including José María Oliva, Real Estate partner; Pablo Gamboa, Real Estate associate; and María Alonso, Tax counsel.
“This ambitious project continues the trend of modernising the football stadium business model, transforming them into state-of-the-art multifunctional infrastructures. The use of securitisation structures is the most suitable solution for this type of long-term financing,” commented Andrés Lorrio.
“The Spanish football sector offers a highly attractive investment opportunity, backed by strong global fan engagement, evolving business models, and greater regulatory clarity,” said Charlotte Lewis-Williams. “This financing is another example of how our cross-border team supports the liquidity and growth plans of European football clubs as they transform from iconic institutions into dynamic platforms for growth and innovation.”
DLA Piper’s European Sports Finance team, led in Spain by Andrés Lorrio, is part of the firm’s Media, Sports and Entertainment practice, co-chaired by Peter White, who leads relationships with key strategic clients such as Goldman Sachs and other leaders in the global sports industry.
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