After 23 years of history the main sponsor of Valncia, Pamesa company is leaving the club. The club will be renamed to Valencia Basket Club for now, until a new sponsor takes over.
Valencia also got a new president, Vicente Sola who will be in charge of the club after serving from various other positions. He will be replacing Manuel Llorente who left the basketball department for the fooball department.
The Roig brother, Juan and Fernando who owned the Pamesa company and the majority of Valecia's shares have stated that they will continue supporting the club financially for at least two more seasons but at the same time said that the club will not be signing extremely expensive players anymore.
The first victim of the new policy is Shammond Williams who despite having one year left in his contract has been called to negotiate his release from the club. His replacement will be Nando De Colo.