Valencia have reached an agreement on outstanding debt with the construction group building their new stadium so that work can be restarted, the Spanish club said on Monday.
UTE, a building group made up of firms FCC and Bertolin, will begin work again on the new arena, which was halted early last year, as soon as administrative details and financing are arranged, Valencia revealed on their official website.
"The club's intention is that once the work has restarted it will not stop again until the first team can play in the new stadium," they added.
The Nou Mestalla - currently being built in the northern suburbs of the city - had been due to open in August 2009 with a 75,000 capacity, but the club's recent financial problems have put that date back.
The current Mestalla - which hosted Spain's opening match of the 1982 World Cup, as well as 1992 Summer Olypics matches - was built in 1923 but has now reached its peak capacity of 55,000,
The financial difficulties of Valencia had interrupted the construction work on the new €200 million stadium but the problems between the club and construction companies now appear to have been resolved.