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Saturday, 14 June 2014

Spain props up soccer amid crushing austerity

In this picture taken on May 18, 2014, Real Madrid's supporters play with a ball inside the official Real Madrid shop of the Santiago Bernabeu stadium in Madrid, Spain. The European Union is investigating whether government loan guarantees for seven soccer clubs violate EU competition law, designed in part to prevent businesses from enjoying unfair advantage through state intervention. The probe is examining tax breaks granted to the Real Madrid, Barcelona, Athletic Bilbao and Osasuna soccer clubs _ but that’s a small part of government assistance to Spain’s soccer league, according to the AP review. (AP Photo/Daniel Ochoa de Olza) VALENCIA, Spain (AP) — At the height of Spain's crushing economic crisis, the Villarreal soccer club sported an eye-catching logo across its jerseys: Aeroport Castello. The local government paid the club 20 million euros ($27 million) to promote what was to become Spain's most notorious "ghost airport" — one that hasn't seen a single flight since it opened in 2011.








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