EU looking into finances of Madrid, other clubs

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The European Union is looking into the financial dealings of Real Madrid and several other big clubs in different European leagues and could open legal proceedings centering on taxation and state aid issues.

The EU's Competition office said Wednesday it was also looking into how fiscal and social contribution debt was handled by several clubs and their local authorities. The EU still had to decide whether to open official legal cases against the clubs.

EU spokesman Antoine Colombani said the Real Madrid case involves possible collusion with the city over land prices, but could not disclose which other leagues or clubs were involved since no official probe had been opened yet.

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