Saturday, April 6, 2013

True Madrid Might Experience EU Probe Amid Football Assistance Problems - Bloomberg

Real Madrid, the worldas greatest soccer team by income, risks state aid to be repaid by a European Union demand after officers said they're examining claims over possible illegal subsidies. Specialists are looking at allegations that Real Madrid as well as other groups over the 27-nation bloc benefited from help restricted under EU competition rules, Antoine Colombani, a for the European Commission, said today. The exact same company last month opened an in-depth probe in to public funding for five Dutch clubs, including PSV Eindhoven. aReal Madrid is among the clubs we are seeking at,a he told reporters. aAt this period, we're only considering the information that we have.a The Brussels-based commission hasnat yet decided to start a proper analysis, he explained. True Madrid, the record nine-time European success, spent a global record 80 million kilos ($121 million) to obtain Cristiano Ronaldo from Manchester United in 2009. The EUas antitrust power didnat simply take any action after beginning an investigation in 2004 into whether Real Madrid received state aid over the sale of its training ground to municipal authorities. Revenue from the sale in 2001 served Real bankroll signings including Zinedine Zidane and David Beckham, who subsequently raised advertising revenue. The Independent magazine reported earlier that the EU is analyzing how the team obtained land from town authorities for development next to its arena. In September 2011, Real Madrid President Florentino Perez said the team agreed with the town hall to exchange land in the suburb of Las Tablas for a public place in the cityas tree-lined main method, with the purpose of creating a mall alongside its arena. Real Madrid speaker Marta Santisteban said the club had no immediate comment. Rafael Gonzalez, a spokesman for Madridas town hall, didnat immediately reunite a phone seeking comment. Besides examining the problems arelating to different soccer clubs in different member states, including Spain,a Colombani said the commission can also be alooking at the situation more broadly speaking of social and financial debt in a few clubs.a The percentage assessments whether government aid for businesses may distort competition in the EU. To make contact with the editors on this story: Aoife White in Brussels at awhite62@bloomberg.net; Alex Duff in Madrid at aduff4@bloomberg.net. To contact the manager accountable for this story: Anthony Aarons at aaarons@bloomberg.net

Via: [Soccer Live] Seattle Sounders FC - Chivas USA

No comments:

Post a Comment