Construction work on Valencia Club de Fútbol's Nou Mestalla stadium is to resume after the Spain-based La Liga club secured a funding agreement with Bankia.

Initially due for completion in time for the 2009-10 season, it is now anticipated the 75,000-seat stadium will be ready to open in two years and replace the current Estadio Mestalla.

Reid Fenwick Asociados and ArupSport are behind the design of the stadium, which is set to cost up to EUR300m (£249.6m) and is being built on the site of a former industrial site.

Valencia CF president Manuel Llorente said: "[This agreement] will go down in history and that will be welcome news for the hundreds of thousands of Valencianistas.

"This has been a joint effort that has taken many months and that has become reality thanks to will, effort and collaboration between our two entities."

Details: www.futuromestalla.com

Image: Fotoblog Rare