Saturday, September 3, 2011

The lawsuit against Valencia CF dismissed

The commercial court No. 2 has dismissed the lawsuit filled by the Association of the sport of soccer followers against Valencia CF-SAD by the process of expanding the club's social capital, which occurred in June 2009.

Nou Valencia took Valencia CF to court because it think that Valencia share increase wasn't spread thin enough and argue that they left because of false promises by the new leadership.

This is what the foundation on the other hand claims:
The Valencia C.F. Foundation is a non-profit organization with the mission to develop sports, social and cultural projects for the good of the community and on behalf of the Valencia C.F.

The point is that there was a crisis thanks to Soler and Valencia CF was going to bankrupt if it did not extend the shares and so it did. It later turned out that Valencia CF Foundation bought most of the shares or 72.5%.

I don't think its false pretenses, since Soler was basically going to destroy Valencia CF and the shares move saved the club.

Hopefully Nou Valencia people are really "taught" a lesson by someone and stop this craziness, putting the club in danger of destruction by going forward with an appeal to the ruling.