Valencia CF President Layhoon Chan Addresses Shareholders
Layhoon Chan, the president of Valencia CF, has provided her unique perspective on the club’s financial situation for the upcoming season, which is crucial for the economic survival of the Nou Mestalla. In an extensive letter addressed to shareholders, Chan breaks the institutional silence that has been maintained since the beginning of the season, where the primary goal was to secure permanence.
Chan emphasizes the importance of completing the Nou Mestalla, stating, “The new stadium is the future of the club and will enable us to grow and adapt to the evolving world of football. Our fans will be able to enjoy it for the next 100 years, just as they have at Mestalla.”
“We hope to soon receive the endorsements and support of the new City Council, since the new stadium project is an important project for the city.”
In a political context, Chan expresses optimism about the club’s relationship with the new City Council, stating, “Since the beginning of the 2022-2023 season, we have made significant efforts to normalize our relations with all stakeholders. We hope to soon receive the endorsements and support of the new City Council, as the new stadium project is crucial for the city.”
Prior to discussing the financial aspects, Chan acknowledges the fans and the centenary of the old Mestalla, stating, “I want the fans to continue enjoying that experience and maintain their emotional connection with our future home at the ‘Nou Mestalla’.”
While reflecting on the previous season’s sporting challenges, Chan commits to learning from the experience, stating, “There are many valuable lessons and conclusions that we can draw from this season.”
Layhoon Chan’s Full Letter to Shareholders
When I returned to the Club in the summer of 2022, after being away for more than five years, I did not anticipate facing one of the most challenging periods in Valencia CF’s history during the second half of the 2022-2023 season. It was an incredibly difficult experience, but it made us stronger. Both the Club and the Valencia CF fans endured three months of great sporting uncertainty, and we emerged with valuable lessons and a stronger sense of unity. Without the unwavering support and faith of everyone involved, we would not have overcome this difficult time.
For over a century, we have proven that we can overcome adversity with the unwavering support of our fans. The memories of our fans filling rival stands in Almería, Elche, Cádiz, Vigo, Palma de Mallorca, and Seville, as well as hundreds of Valencian fans waiting for buses at the Camp de Mestalla, are still vivid in our minds. They will forever remain in our memories.
Despite the challenges we faced last season, we have witnessed the incredible loyalty of our fans once again in the new 2023-2024 season, with a record number of subscription renewals surpassing last season’s figures. My sincerest thanks to all of them.
Currently, we have 38,500 subscribers, with approximately 45% of them being shareholders. Among this group, 41% have been partners for over 25 years. Your unwavering support gives us optimism for the future, as we continue to walk together and stay united. The greatness of our beloved Club inspires us to give our best every day.
The 2022-2023 season also highlighted the importance and success of the VCF Academy, which greatly contributed to the first team. We are proud that the VCF Academy has been ranked as the sixth best academy among the top five leagues (Spain, Germany, Italy, England, and France) for the fourth consecutive year, according to the CIES Football Observatory. Our academy serves as a model that we export to 55 countries across five continents through our international academies, camps, and strategic partnerships.
In the social sphere, the Club continues to carry out numerous social and solidarity programs, demonstrating our commitment to Valencian society. For over a decade, the VCF Foundation has spearheaded projects such as Escoles Cor Blanquinegre, VCF Inclusivo, Cultura y Raíces (Fórum Algirós and the exhibition of ‘Els Nostres Ídols’), and ADN Mestalla Solidari. These initiatives promote integration, motivation, and personal development for individuals at risk of exclusion or with intellectual disabilities. Valencia CF is also proud to be one of the founders of LaLiga Genuine, the Spanish football competition for people with intellectual disabilities. These programs exemplify the values that set Valencia CF apart from other football clubs.
We have consistently demonstrated our commitment to being a respectful club. We have taken a leading role in the fight against racism and have implemented protocols against racism in our stadium. Our recent initiative, VCF World, is an awareness campaign against racism and discrimination in the 2023-24 season. This initiative reflects our stance against any form of discrimination or violence, and we hope to build a better world based on mutual respect for ourselves and future generations.
In 2023, we also celebrate the centenary of Mestalla. For over a century, our fans have celebrated, cheered, and shed tears with a unique passion for the Club that characterizes the Camp de Mestalla. This special connection has been passed down from generation to generation. Each of us has our own extraordinary experiences at Mestalla that we cherish. Whether these moments are personal or shared, they will forever remain in our memories. I want the fans to continue enjoying that experience and maintain their emotional connection with our future home at the ‘Nou Mestalla’.
The Nou Mestalla is a crucial project for the Club, and we are fully committed to its completion. The new stadium represents the future of the club and will enable us to grow and adapt to the evolving world of football. Our fans will be able to enjoy it for the next 100 years, just as they have at Mestalla. Since the beginning of the 2022-2023 season, we have made significant efforts to normalize our relations with all stakeholders. We hope to soon receive the endorsements and support of the new City Council, as the new stadium project is crucial for the city.
Valencia CF boasts a rich history, with 104 years of sacrifice and effort in a football world that is constantly changing. Looking ahead, Valencia CF is focused on two vital commitments in modern football: innovation and sustainability. Innovation encompasses progress and improvement in various areas, such as training, player health monitoring, and enhancing the fan experience. We are constantly seeking creative ideas to