The public guarantee granted by the Instituto Valenciano de Finanzas to Elche football club should not be immediately paid back, the General Court of the EU ruled in a summary judgment returned on Tuesday 15 May (case T-901/16).
In July 2016, the European Commission concluded that this aid awarded to Elche football club was in breach of EU state aid rules, as the club obtained two bank loans for a total of €14 million at more advantageous conditions. This public financing was not connected...