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The Star
12 hours ago
- Business
- The Star
Valencia CF secures $377 million financing for Nou Mestalla stadium
FILE PHOTO: View of the partially built soccer stadium Nou Mestalla, started in 2007 to replace the current stadium, the Mestalla, in Valencia, Spain, November 17, 2024. REUTERS/Vincent West/File Photo SINGAPORE (Reuters) -Valencia CF has secured financing totaling 322 million euros ($377 million) for the development of the Nou Mestalla stadium, the Spanish football club said on Thursday. The financing, comprising 237 million euros of notes and 85 million euros of a short-term loan, is one of the biggest transactions ever completed by a professional football club in Spain and across Europe, Valencia said in a statement. "Securing this landmark financing gives us the green light to deliver Nou Mestalla - a world-class stadium that will power the club's growth for generations," Kiat Lim, Valencia CF President, said in the statement. Lim is the son of Singaporean billionaire Peter Lim, who is the club's majority owner. The stadium, which is located in the city of Valencia and will have over 70,000 seats, is scheduled to open in 2027. It is expected to multiply the revenue currently generated at its old Mestalla facility, Valencia CF said. "Given the expanded hospitality, greater capacity, and multi-purpose event hosting, early estimates suggest that we will be more than tripling the current revenue," Kiat Lim said. Valencia CF was advised by Bibium Capital, Addleshaw Goddard, Beka Titulizacion and Goldman Sachs, with Spain's La Liga providing support to the club in the process, according to the statement. ($1 = 0.8547 euros) (Reporting by Yantoultra Ngui; Editing by Muralikumar Anantharaman and David Evans)
The Star
15-05-2025
- Sport
- The Star
Soccer-Osasuna edge closer to Europe with Atletico win
Soccer Football - LaLiga - Osasuna v Atletico Madrid - El Sadar Stadium, Pamplona, Spain - May 15, 2025 Osasuna's Ante Budimir scores their second goal REUTERS/Vincent West PAMPLONA, Spain (Reuters) -Osasuna secured a surprise 2-0 home win over Atletico Madrid in LaLiga on Thursday as headers by Alejandro Catena and Ante Budimir moved them another step closer to European football. Defender Catena headed in from a corner to put the hosts in front in the 25th minute before Budimir doubled Osasuna's lead eight minutes from fulltime, moving them up to ninth in the standings. Osasuna are now level on 48 points with eighth-placed Rayo Vallecano, who occupy the spot for the Europa Conference League qualifiers as five LaLiga teams are headed to the Champions League this season. Atletico, who have been out of the title race, remained third with 70 points after 36 games. (Reporting by Anita Kobylinska in GdanskEditing by Christian Radnedge)
Straits Times
03-05-2025
- Sport
- Straits Times
Atletico's title hopes take another hit in 0-0 draw at Alaves
Soccer Football - LaLiga - Deportivo Alaves v Atletico Madrid - Estadio Mendizorroza, Vitoria-Gasteiz, Spain - May 3, 2025 Atletico Madrid coach Diego Simeone reacts towards referee Juan Martinez Munuera during the match REUTERS/Vincent West Soccer Football - LaLiga - Deportivo Alaves v Atletico Madrid - Estadio Mendizorroza, Vitoria-Gasteiz, Spain - May 3, 2025 Atletico Madrid coach Diego Simeone gives instructions to the Atletico Madrid players during the match REUTERS/Vincent West Atletico's title hopes take another hit in 0-0 draw at Alaves VITORIA-GASTEIZ, Spain - Atletico Madrid's fading hopes of winning the LaLiga title suffered a potentially grievous blow on Saturday as they were held to a goalless draw by relegation-threatened Alaves at the Mendizorrotza Stadium. Atletico remained third in the standings with 67 points, nine behind leaders Barcelona who travel to Real Valladolid later on Saturday. Alaves moved up to 16th, three points clear of the relegation places. The first half was a cagey affair without a single shot on target, the most notable moment coming when Atletico forward Julian Alvarez was dismissed for planting a high boot on Facundo Garces, though the red card was overturned after the referee consulted the pitchside monitor. Atleti coach Diego Simeone made five changes in the second half in a bid to shake up the game, and although the substitutions sparked the contest into life, Atletico were unable to find a winner despite creating a number of late chances. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
02-04-2025
- Business
- Yahoo
With cellars overflowing, wine makers in Spain's Rioja fret over US tariffs
By Vincent West FUENMAYOR, Spain (Reuters) - Stockpiles of wine in Spain's Rioja region have swelled since the pandemic, but producers' hopes of offloading tannic reds into the U.S. market were dimming ahead of what President Donald Trump is calling his "liberation day" tariffs announcement. Adding to their worries, Trump's threat of slapping 200% tariffs on wine and champagne imports from Europe comes at a time that global demand for the alcoholic beverage is dipping. "There's wine accumulated since COVID-19, there's quite a bit piled up, and in the end, that's a burden on the price ... It's bad for the farmer," winegrower Enrique Lopez de Alda, 39, told Reuters. Sales of Rioja, one of the most prized Spanish wines both domestically and abroad, increased 0.6% in 2024 from the previous year. Given that worldwide consumption of wine has fallen, that was a "rather significant" performance, said Amanda De La Santisima Trinidad, spokesperson for the Rioja regulator council. The U.S. is the second export market for Rioja wines after Britain, with sales there representing 4% of overall production. 'NOT GOOD' FOR ANYONE "The U.S. is also a wine producer, but it can't supply its entire market," said Jorge Rodriguez, co-owner of Petralanda winery and bodega. Tariffs are "not good for them, nor for us, of course. But globally, in the end, everyone depends on everyone." European wine makers have already been caught in the crosshairs of prior transatlantic trade tensions: Washington and Brussels hiked tariffs on each other's agro-food exports in October 2019, during Trump's first term. Rioja wines managed to keep their market share in the U.S. - although some operators saw thinner margins, De La Santisima Trinidad said. The 25% tariffs were lifted in 2021 by the new Biden administration. Spain is the world's third-largest wine producer after Italy and France, but it leads in terms of exports and the total surface area covered by lush vineyards. The northern region of La Rioja, with its diversity of terroir, microclimates and grape varieties, accounts for just 0.7% of Spain's population but makes 21% of its wine, including some lesser-known whites. The area's nearly 600 wineries produce 362 million bottles annually, with some vintages valued at as much as 5,000 euros ($5,400) per bottle. The industry is worth around 1.5 billion euros a year, accounting for 20% of the region's economy. ($1 = 0.9258 euros) Sign in to access your portfolio
