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The European Union is to close Real Madrid's investigation
Spain - 05 November, 2004
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The EU conducted since January an investigation on the conditions of sale, and the €480m received by the club for parcels of land where the Ciudad Deportiva was built. The land was allegedly bought out of public funds at inflated prices to help the club erase debts of €270m. The investigation has concluded that the deal did not breach rulings regarding public grants. The information sought on the status of the buyers (The OHL construction firm, Repsol YPF oil, the Madrid Automobile Association and Sacyr Vallehermoso property) has reveled that they were all private companies.
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