The Canadian Press - ONLINE EDITION

Valencia parts ways with coach Juan Antonio Pizzi as sale of club is delayed

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VALENCIA, Spain - Valencia says it is parting ways with Argentine coach Juan Antonio Pizzi amid the delay in the club's sale.

Valencia says it has taken the decision "in order to give stability" to the club as it undergoes, what it described in a statement, a "drawn-out sale process."

The acquisition of the highly indebted club by Singaporean investor Peter Lim appeared to have been finalized weeks ago, but Valencia now says it has reached a "complex and crucial moment."

The statement did not mention Pizzi's replacement.

Valencia hired Pizzi last December. The team finished eighth in the Spanish league last season, missing out on European competition for the upcoming campaign.

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