Cost hike on Nou Mestalla Stadium revamp

Image: Fenwick Iribarren Architects and Valencia CF

Valencia City Council has revealed a substantial increase in the costs to complete development of the Nou Mestalla Stadium, the future home of Valencia CF.

Footboom1 said a recent audit conducted by Vielca Ingenieros for the council reveals a huge increase of €34 million in the project’s cost, bringing the total to €341 million, up 17% from the club’s initial estimate.

This figure will serve as a critical marker for the council, which could demand a deposit from club owner Peter Lim should construction, which has recently been restarted following years of delays, be halted.

It’s a strategic move to ensure that the recently resumed work continues uninterrupted, allowing Valencia to prepare for significant events, including the upcoming 2030 World Cup.

Valencia CF is a Spanish professional football club based in Valencia, Spain, which currently plays in LaLiga, the top-flight of the Spanish football league system. Valencia was founded in 1919 and has played its home games at the 49,430-seat Mestalla Stadium since its opening.

The 70,000-capacity Nou Mestalla Stadium is a partially built football stadium in Valencia, Spain, intended as a replacement for Valencia’s current stadium, the Mestalla. The basic concrete structure of the stadium was built between August 2007 and February 2009 but work was then halted for financial reasons.

According to Valencia CF’s submitted plan, the Nou Mestalla Stadium, designed to accommodate 70,000 spectators and feature an athletics track along with top-tier facilities, was initially budgeted at €202.7 million excluding taxes.

The completed portion of the construction is valued at €63 million, with additional costs amounting to €30.4 million for architecture, €67.6 million for structures, €38.9 million for installations, and €2.7 million for services and quality control.

However, the City Council’s audit raises that total to an eye-watering €237.14 million, reflecting increases of 25%, 12%, 42%, and 34% respectively in each pending section of the project. Notably, the cost of the work already completed remains unchanged.

Footboom further stated that municipal sources indicate that the purpose of this audit, which essentially validates the plan recently put forward by Valencia CF, is to establish a concrete figure that will serve as a benchmark.

This figure is intended to be a reference, rather than the club’s budget, in case construction works are halted, thereby allowing the city council to request funds from Peter Lim for the remaining investments.

Ultimately, this serves as a clear warning to the club’s owner that halting construction could lead to significant ramifications.

The city council now has a real basis to demand compensation for any potential failures to comply with the established agreements.

Work on the Nou Mestalla is expected to be completed by July 2027 paving the way for Valencia CF to play in their new home from the 2027-2028 season.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.

• Tags »
• costs
• Mestalla Stadium
• Valencia

« Previous News: Pavilion-in-a-garden Venice venue plans
» Next News: GL Events at forefront of Asian Games 26