Today's Edition
BRUSSELS/MADRID (dpa)
Real Madrid will request the return of €20.3 million ($23.8 million), plus interest, from the Madrid city council after the European Commission ruled that they didn't have to pay the sum in connection with a real estate deal from 2011.
"The European Commission acknowledges in its final decision that no favourable treatment or aid was granted to Real Madrid," a club statement on Friday said.
"Our club will immediately request the return of the €20.3 million paid to the Madrid City Council in 2016, plus interest for late payment, in accordance with the applicable legislation, in order to restore the economic damages
Real were originally paid €18.4 million in 2011 as compensation for a previously agreed sale of land by the city to the club, which was then determined to be impossible due to building regulations.
The club returned the money, which, including interest, amounted to €20.3 million, in 2016 when the European Commission deemed the payment to be illegal state aid.
However, the commission now states that the 2016 ruling was based on an erroneous valuation, whereas the valuations of the club and the city in the 2011 agreement were correct.
This was already determined by a European Commission court in 2019 but it took six years to look into all legal aspects and end the case.
