Crisis club Valencia ‘giving players IOU notes which expire in September 2021 as they can’t afford to pay wages’
CASH-STRAPPED Valencia have been forced to give their stars IOU notes because they can't afford to pay their players, according to reports.
The struggling LaLiga side have seen their finances devasted by the ongoing coronavirus pandemic.
They have already been forced to sell star players Francis Coquelin and Dani Parejo for bargain fees - causing widespread anger among supporters.
Both players joined league rivals Villarreal for a combined fee in the region of £12million to ensure they are off the wage bill.
But the problems appear a lot more serious than first feared following
They write how the players were forced to forgo their latest pay packets and were left angered when they were instead given IOU's with an expiry date of September 2021.
The club reportedly attempted to reassure the players that it was down to an administrative error and they will be paid by the end of next month.
However, president Anil Murthy failed to show up to a team meeting on Monday which was arranged to share the financial predicament with the players causing further frustration among the ranks.
It was revealed the club have been forced to put every single player except Jose Gaya on the transfer list in a desperate bid to raise funds.
Owner Peter Lim has recently received criticism from the city's vice mayor for failing to fund the construction of the club's unfinished Nou Mestalla stadium.
Work began in 2007 but was halted in 2009 due to Spain's economic crisis.
The club only appointed former Watford boss Javi Gracia last month ahead of the upcoming campaign.
And he has been forced to hold showdown talks with his players, asking them to put off-field woes behind them and motivate them for the new season.