Soccer

EU examines Valencia's backing of football clubs

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VALENCIA, Spain (AP)

The European Union is investigating the Spanish regional government of Valencia for its guarantee of loans taken out by local football clubs.

A government official told The Associated Press on Thursday that the EU requested information on loan guarantees made by the regional government for Valencia and lower-division clubs Elche and Hercules. The official spoke on the condition of anonymity because its government policy.

Last month, a court revoked the guarantee given by the regional government for a loan from Spanish bank Bankia to Valencia. Bankia, which has been bailed out by Spain's central government, has appealed the court's decision.

The EU was already looking into a real estate deal between Real Madrid and the city of Madrid.

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