The European Union is investigating the Spanish regionalgovernment of Valencia for its guarantee of loans taken out bylocal football clubs.A government official told The Associated Press on Thursday thatthe EU requested information on loan guarantees made by theregional government for Valencia and lower-division clubs Elche andHercules. The official spoke on the condition of anonymity becauseits government policy.Last month, a court revoked the guarantee given by the regionalgovernment for a loan from Spanish bank Bankia to Valencia. Bankia,which has been bailed out by Spain’s central government, hasappealed the court’s decision.The EU was already looking into a real estate deal between RealMadrid and the city of Madrid.
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