Brussels, 04/07/2016 (Agence Europe) - On Monday 4 July, the European Commission officially ordered seven Spanish football clubs - Real Madrid, FC Barcelona, Athletic Bilbao, Osasuna, FC Valencia, Hercules and Elche - to repay public aid received unduly in the form of tax advantages and public bank guarantees (see EUROPE 10987 and 10986).
“Professional football is a commercial activity with significant money involved and public money must comply with fair competition rules. The subsidies...