“It generates fear and uncertainty” – Levante's financial director explains the strategy behind major stadium renovation
31 August 2021
LaLiga side Levante have made bold stadium renovations, installing a new roof, scoreboard and a public address system.
Financial director Ignacio Garcia says there's more to come, with commercial zones, hospitality spaces and construction on a new training complex planned for next year.
Having lived in the shadows of club neighbours Valencia for so long, their €30 million investment demonstrates lofty ambitions at a tough time for football economically.
Ignacio Garcia believes the €30 million invested in the stadium will return a profit in five or six years.
The financial director of Levante, Ignacio Garcia, is working towards an economic picture few forecasters and supporters of the Spanish team could have ever imagined.
Just over a decade ago, Levante were in financial trouble and considered selling their stadium, the Estadi Ciutat de Valencia. Now, the LaLiga club is using it to their advantage, with refurbishments already installed and aspirations to use the site for business events and concerts alongside top-flight football.
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