Link: https://curia.europa.eu/jcms/upload/docs/application/pdf/2020-03/cp200030en.pdf

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General Court of the European Union

PRESS RELEASE No 30/20

Luxembourg, 12 March 2020

Judgments in Cases T-732/16 Valencia Club de Fútbol v Commission and T-901/16 Elche Club de Fútbol v Commission

The General Court annuls the Commission’s decision on aid measures implemented in favour of the Spanish football clubs Valencia CF et Elche CF

The decision is vitiated by a number of manifest errors of assessment

Between 2009 and 2010, the Instituto Valenciano de Finanzas (‘the IVF’) — the financial establishment of the Generalitat Valenciana (Regional Government of Valencia, Spain) — granted a number of guarantees to associations linked to three Spanish professional football clubs from the Autonomous Community of Valencia, Valencia CF, Hércules CF and Elche CF. Those guarantees were intended to cover the bank loans taken out by those associations in order to participate in the increase in the capital of the three clubs to which they were linked. In Valencia CF’s case, the guarantee granted was increased in 2010 in order to cover the increase of the underlying bank loan.