Judgment of the Court (First Chamber) of 10 November 2022 – European Commission v Valencia Club de Fútbol, SAD, Kingdom of Spain

(Case C-211/20 P) ¹

(Appeal – State aid – Public guarantee granted by a public entity – Loans to three football clubs from the Community of Valencia (Valencia CF, Hércules CF and Elche CF) – Decision declaring the aid to be incompatible with the internal market – Annulment of the decision in so far as it concerns Valencia CF – Concept of ‘advantage’ – Assessment of the existence of an advantage – Guarantee Notice – Interpretation – Duty of care on the part of the European Commission – Burden of proof – Distortion)

Language of the case: Spanish

Parties

Appellant: European Commission (represented by G. Luengo, P. Němečková and B. Stromsky, acting as Agents)

Other parties to the proceedings: Valencia Club de Fútbol SAD (represented by G. Cabrera López, J.R. García-Gallardo Gil-Fournier and D. López Rus, abogados), Kingdom of Spain (represented by M.J. Ruiz Sánchez, acting as Agent)

Operative part of the judgment

The Court:

Dismisses the appeal;

Orders the European Commission to bear its own costs and to pay those incurred by Valencia Club de Fútbol SAD;

Orders the Kingdom of Spain to bear its own costs.

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¹ OJ C 262, 10.8.2020.