The EU General Court has found that Real Madrid did not receive over EUR 18,000,000 in State aid from the Madrid City Council over a real estate settlement agreement.
On 20 December 1991, Madrid City Council, City Council Urban Development Department and Real Madrid (the Applicant) concluded an agreement concerning the renovation of the Santiago Bernabéu stadium in Madrid (the 1991 Agreement).
On 29 November 1996, the Applicant and the Autonomous Community of Madrid entered into a land swap agreement (the 1996 Agreement).
On 29 May 1998, the Applicant and Madrid City Council concluded an agreement (the 1998 Implementation Agreement) with the aim of implementing the land swap that was envisaged in the 1996 Agreement. The Applicant was to transfer certain land to that City Council and, as consideration, the City Council was to transfer to the Applicant land which would match its obligations towards the Applicant, that is, the transfer of plots of land worth approximately EUR 13.5 million.
On 29 July 2011, the Applicant and Madrid City Council signed an agreement...
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