Keywords

• Appeal
• State aid
• Burden of proof
• Guarantee Notice.
• Concept of ‘advantage’
• 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
• Assessment of the existence of an advantage
• Interpretation
• Duty of care on the part of the European Commission
• Distortion.