Spanish soccer club Valencia on Thursday won its fight against an EU state aid decision as Europe's top court said competition regulators had failed to prove their case in yet another blow to EU antitrust chief Margrethe Vestager's tax crackdown.
The European Commission had said in its 2016 decision that guarantees provided by the regional government of Valencia between 2009 and 2010 to foundations linked to Valencia and two other soccer clubs, to cover bank loans taken out in order to participate in capital increases for the clubs, were illegal state aid.
