BRUSSELS (Reuters) – EU competition regulators ordered Real Madrid, Valencia and five other Spanish football clubs on Monday to repay millions of euros in illegal state aid.
The European Commission said the public support measures granted by Spain to seven professional football clubs gave those clubs an unfair advantage over other clubs in breach of EU State aid rules.
Real Madrid was ordered to pay back 18.4 million euros ($20.5 million) in one case for an overvalued land transfer and Valencia 20.4 million euros in another case.
($1 = 0.8987 euros)
(Reporting by Foo Yun Chee; editing by Alastair Macdonald)