EU Watchdog Probes Spanish Aid To Soccer Teams

Law360, New York (December 18, 2013, 5:25 PM EST) -- The European Commission launched formal investigations Wednesday into tax breaks and other potentially illegal state aid Spain offered to several major football clubs, including Real Madrid CF and FC Barcelona, four years after receiving complaints over the practices.

The European Union's antitrust watchdog opened three separate probes into Spanish support for the teams, saying that the tax breaks and other benefits seemed to give some clubs an edge over rivals.

"Professional football clubs should finance their running costs and investments with sound financial management rather than...
To view the full article, register now.