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Apr 3, 2009, 13:09 GMT

Valencia receive loan, players finally to be paid

Madrid - The players of Spanish football giants Valencia are to receive their outstanding salaries after the club said on Friday it has been granted a 50-million-euros (67 million dollar) loan. The club said the loan, by the local business group Fomento Urbano de Castellon, will allow it to pay off its debts to the players and to the construction company which is building the club's new stadium. Construction of the new stadium was suspended in February because the club owed money to the construction firm. 'Los Ches' are rumoured to be more than 100 million euros in debt, though embattled club president Vicente Soriano appears to be confident about turning the situation around. The loan reportedly secures player salaries until the end of the season. Sports papers AS and Marca said on their websites that Valencia general director Javier Gomez and sporting director Fernando Gomez have told the long-suffering players - who have not been paid since December - that their backdated salaries are about to be paid. At the same time, Fernando - Valencia captain and Spanish international in the 1990s - asked the players for a special effort on the field. Valencia are ranked sixth in La Liga, facing an uphill battle to return to the money-laden European Champions League.

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