REAL MADRID have been fined almost £16million pounds after an EU commission ruled that they had received illegal state funding.
The Spanish government has been instructed by the European Commission to recover €18.4million, within the next four months.
It was discovered that the funds had been transferred by the city council during the tenure of then-mayor Alberto Ruiz-Gallardón between 2003 and 2001.
Spanish fooball news-site Futbol.as reports that “the European Commission considers that Spain has unlawfully granted State aid to Real Madrid in breach of Article 108, paragraph 3 of the Treaty on European Union”.
The ruling was contained in a 31-page document that detailed a number of state funding, or tax benefits that the EU has deemed to be ‘illegal’.
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