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EU Orders Spanish Government To Recover $21M From Real Madrid

The European Union "has delivered its resolution against Real Madrid for receiving state aid" from the Spanish authorities and has ordered the government to recover the €18.4M ($20.8M) plus accrued interest that the club received, according to Joaquín Maroto of AS. The judgment said, "The European Commission considers that Spain has illegally granted state aid to Real Madrid." The 31-page ruling "lays out the process by which the EU considers that Real Madrid received state aid," which relates to a '98 deal between Real Madrid and the city authorities over land in the Las Tablas area of Madrid that the EU has ruled was illegal. The parcel in question "was originally given to the club in a land exchange deal," however when Real Madrid discovered it could not use it, the club was given "excessive compensation from the Madrid City Council, according to the EU" (AS, 8/25).

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