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EU Launches Investigation Into Spanish Football Finances

Mon 16th Dec 2013
EU Launches Investigation Into Spanish Football Finances

The EU is to launch legal proceedings this week into the financial affairs of Real Madrid, Barcelona and a number of other la Liga clubs to see if they meets EU state aid requirements.

Spanish Foreign Minister Jose Manuel Garcia-Margello announced today how the "government will battle until the end to defend Spanish clubs," arguing they are an 2eesential part of brand Spain".

For their part the EU refused to comment on the case, but confirmed how Competition Commissioner Joaquin Almunia will hold a press conference on the subject later this week.

An investigation into the finances of a number of Spanish league clubs could have major repercussions since many of them are already experiencing financial difficulties.

The Minister specifically mentioned Valencia, Hercules, Elche, Athletic Bilbao and Osasuna football clubs as part of the EU probe.