Brussels to investigate Real Madrid and Barcelona over illegal state aid
Wednesday, December 18, 2013 @ 10:35 AM
Real Madrid and Barcelona, along with five other Spanish football clubs, are to be investigated by the European Union over alleged illegal state aid.
Osasuna, Athletic Bilbao, Valencia, Elche and Hércules are also going to be scrutinised by the European Commission, according to an announcement from the Spanish foreign ministry today.
Foreign Minister, José Manuel García Margallo (pictured in Brussels today), explained that Barcelona, Real Madrid, Osasuna and Athletic Bilbao are accused of contravening European Union regulations because they are still owned by their members and had benefitted from favourable tax treatment.
Valencia, Elche and Hércules were being investigated because of handouts the three clubs received from the regional government in the form of loans and bank guarantees.
Read more at thinkSPAIN.com