Local government 'takes control of majority shareholding of Valencia'

Mestalla
© PA Photos
The local government reportedly takes control of Valencia due to the club's failure to pay off their debt.

Valencia have reportedly been taken over by the government after failing to pay off their debts.

The Spanish outfit have been struggling financially for some time and reports have claimed that the local government have stepped in to take the majority shareholding of the club.

It is believed that the government are eager to offload the club and will try to meet Valencia's request of keeping it in the hands of the locals, according to insidespanishfootball.com.

Valencia are believed to have accumulated £71.4m worth of debt.

Real Madrid coach Jose Mourinho on the touchline before the start of the match against Atletico Madrid on December 1, 2012
Read Next:
Live Commentary: Valencia 0-5 Real Madrid - as it happened
>
You May Like
Recomended from Sports Mole



Tables
TeamPWDLFAGDPTS
1Real Madrid11003033
2Barcelona11002023
3Real Sociedad11003213
4EibarEibar11001013
5Leganes11001013
6Levante11001013
7Valencia11001013
8Atletico MadridAtletico10102201
9GironaGirona10102201
10Espanyol10101101
11Sevilla10101101
12Athletic Bilbao10100001
13Getafe10100001
14Celta Vigo100123-10
15AlavesAlaves100101-10
16Las PalmasLas Palmas100101-10
17Malaga100101-10
18Villarreal100101-10
19Real Betis100102-20
20Deportivo La CorunaDeportivo100103-30