Aachen Buys Tivoli Stadium For €1 Gulf Nations To Kick Australia Out Of AFC Blatter Formally Joins FIFA Election Court Orders Lens Relegation To Ligue 2 More Than 500K Watch Handball On Sky Para-Cycling To Find Out Paralympic Fate Legia Warsaw Launches $2.3M Fund Aussie Open Match Attracts 3.5M Viewers Argentine Footballerr Returns To China Cologne To Increase Stadium Capacity
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/April 4, 2013/International Football
Real Madrid Under Investigation By European Commission For Illegal State Aid
Published April 4, 2013
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
TURN BACK THE CLOCK: BLOOMBERG's White & Duff reported Real President Florentino Perez said that the club agreed with the city hall in '11 to "exchange land in the suburb of Las Tablas for a public area in the city's tree-lined main avenue, with the aim of building a shopping center next to its stadium" (BLOOMBERG, 4/3). REUTERS' Mark Elkington reported Real said the valuation of the land in '11, "which found its value to have increased 54-fold," was carried out by Madrid City Council, and was therefore "independent." Real said: "The valuation of all the properties have increased due to the time lapse between the different valuation that in some cases exceeds 10 years, the degree of evolution of the urban development process and the evolution of property prices" (REUTERS, 4/3).
BIGGER, BETTER: In a separate piece in the INDEPENDENT, Wallace reported Real Madrid foresees a future where its stadium is "even bigger, better and more lucrative than ever before." The story of how Real came to be investigated by the EC after allegations of state aid "goes to the heart of the club's ambitions." The new shopping mall and hotel complex, as well as the naming rights associated with the roof, "are part of the plan" to keep Real, with an annual revenue of £434M ($657M), "as the highest-earning club in the world" (INDEPENDENT, 4/3).