natgillin/translations-raw huggingface dataset:
The underlying transactions were described and measurable.
Komisija nadalje ugotavlja, da Španija ni predložila načrta o finančnih obetih klubov Hercules CF in Elche CF v času dodelitve državnih poroštev v njuno korist (leta 2010 in 2011).
IVF received counter-guarantees for the guarantees in question, in particular pledges on the shares acquired by the Fundaciones with the guaranteed loans.
Poleg tega Španija ni predložila pripomb v zvezi z združljivostjo ukrepov 2 in 3 z notranjim trgom na kakršni koli podlagi.
The recipients of the guarantees, i.e. the three Fundaciones, were not in difficulty at the time of the guarantees' granting.
PRIPOMBE ZAINTERESIRANIH STRANI
The guarantee fees and interest rates of the guaranteed loans were at market level.
Komisija je med formalnim postopkom preiskave prejela pripombe kluba Valencia CF in fundacije Fundacion Valencia, ki se v velikem obsegu ujemajo s pripombami Španije in IVF (glej uvodne izjave 36 do 45).
Furthermore, Spain claims that the 2009 decision of Fundacion Valencia to invest in the Valencia CF's shareholding was in conformity with the market economy investor principle, and that therefore no undue advantage was granted under Article 107(1) TFEU, for the following reasons:
Poleg teh ujemajočih se utemeljitev navedene zainteresirane strani trdijo naslednje:
The decision of IVF to grant measure 1 was based on a viability plan of Valencia CF describing the club's good economic prospects, to come especially from the operations of the club's new stadium (see recital 20 above).
Klub Valencia CF trdi, da prodaja delnic, ki jih je fundacija Fundacion Valencia pridobila leta 2009, po ceni, višji od nakupne cene 48,08 EUR na delnico (glej uvodno izjavo 6), in dejstvo, da je IVF za svoje poroštvo prejel zastavne pravice na delnice kluba, kažeta na to, da je IVF ravnal v skladu z načelom vlagatelja pod tržnimi pogoji, saj bi vrednost teh delnic krila tveganje IVF kot poroka.
The loan received by Fundacion Valencia was agreed to be repaid with the proceeds coming from the sale of the shares that Fundacion Valencia acquired in Valencia CF in 2009.
Klub Valencia CF trdi, da se je glede na prenos lastništva kluba Valencia CF v okviru odprtega in konkurenčnega postopka zbiranja ponudb element pomoči izražal v tržni ceni in je bil vključen v nakupno ceno.
There was significant participation in the 2014 sales process by important investors, which proves the market interest.
Zato je prodajalec delnic tisti, ki je imel korist od pomoči.
The winning price in the abovementioned 2014 sales process was higher than the price at which Fundacion Valencia acquired shares in Valencia CF in 2009 (EUR 67,5 per share vs EUR 48,08 per share, respectively).
Klub Valencia CF trdi, da je to v skladu s sodno prakso [9].
In addition, Spain argues that the measures under scrutiny do not fulfil the criterion of distortion of competition and effect on trade between Member States under Article 107(1) TFEU because:
Po mnenju kluba Valencia CF bi moral glede na navedeno znesek pomoči, povezan z državnim poroštvom, vrniti prodajalec, tj. fundacija Fundacion Valencia.
In 2012, when comparing Valencia CF's situation with that of other actors in equivalent leagues, such as the Premier League, one sees that Valencia CF generated less broadcasting rights revenue even than Blackpool, the team with the lowest income in the Premier League.
Poleg tega klub Valencia CF trdi, da bi bilo treba pri izračunu vsakega elementa pomoči upoštevati dejstvo, da v času ukrepa, ki je predmet preiskave, klub Valencia CF ni bil v „slabem položaju/finančnih težavah“, ampak je imel „zadovoljivo bonitetno kategorijo“, in da bi bilo treba zastavne pravice na delnicah kluba Valencia CF, ki jih je fundacija Fundacion Valencia zagotovila IVF, šteti kot „visoko“ ali vsaj „običajno“ stopnjo zavarovanja s premoženjem.
Also, in the 2011-2012 season Valencia CF had the front of the players' shirts left without any main sponsor, which shows the problem that the club is having in competing in the sponsorship market.
Klub Valencia CF trdi tudi, da naj bi bilo poroštvo iz leta 2009 združljivo z Začasnim okvirom Skupnosti za ukrepe državnih pomoči v podporo dostopu do financiranja ob trenutni finančni in gospodarski krizi iz leta 2009 [11], ki je bil sprejet za obravnavanje pomanjkljivosti, ki bi izhajale iz gospodarske in finančne krize, ki se je začela oktobra 2008.
Finally, the club had to sell during the period under investigation its most valuable players, which mitigated the club's chances for success in sport competitions.
Fundacija Fundacion Valencia trdi, da so njeni upravni organi sprejeli načrt plačil, ki je bil predložen vladi Generalitat Valenciana in banki Bankia, da bi lahko slednja dodelila zadevno poroštvo in posojilo.
Hercules CF was in the second division when it was given the loan.
V skladu z načrtom plačil je bila fundacija Fundacion Valencia obvezana prodati vse pridobljene delnice v klubu Valencia CF do 30. junija 2015, in sicer: (a) v 1. fazi, ki naj bi se zaključila 31. decembra 2010, naj bi fundacija Fundacion Valencia prodala najmanj 47663 delnic po ceni 53,50 EUR na delnico, kar bi ji zagotovilo prihodek v višini približno 2,5 milijona EUR, in (b) v 2. fazi, ki naj bi se zaključila 30. junija 2015, naj bi prodala 852452 delnic po ceni od 53,50 do 67,50 EUR na delnico.
Therefore its geographical scope is, and has always been, local, and it has never taken part in European competitions.
Fundacija Fundacion Valencia je rok 30. junij 2015 določila točno na datum dospelosti posojila s poroštvom.
Elche CF has never qualified for a European competition and its economic influence rarely extends beyond the province of Alicante.
Fundacija Fundacion Valencia je bila obvezana, da vse prihodke od prodaje delnic uporabi za odplačilo posojila s poroštvom.
Also, Elche is an entity, which, in itself, does not have the capacity to attract football players from other markets under financial conditions that would have altered competition.
Fundacija Fundacion Valencia navaja, da naj bi bila prodajna cena delnic enaka seštevku njihove nominalne vrednosti in morebitnih obresti, ki bi se v zadevnem obdobju obračunale za posojilo s poroštvom.
Fundacion Valencia's obligation was to use the proceeds from the sale of the shares for the repayment of the guaranteed loan.
Fundacija Fundacion Valencia dodaja, da naj bi se posojilo s poroštvom poplačalo tudi z uporabo denarnih prispevkov institucionalnih skrbnikov in tretjih oseb (javnih ustanov in zasebnih družb) in s tekočimi prihodki iz njenih rednih dejavnosti.
Spain does not disagree with the Commission's preliminary findings (and even acknowledges) that IVF's decisions to grant the measures in question were imputable to the State, and that Valencia CF, Hercules CF and Elche CF were in difficulty at the time of the granting of the measures in question.
V zvezi s tem fundacija Fundacion Valencia trdi, da prvega plačila obresti z datumom dospelosti 27. avgusta 2010 ni bilo mogoče izvesti zaradi zamude pri prodaji delnic v 1. fazi, zaradi česar je bilo 10. novembra 2010 posojilo s poroštvom povečano za 6 milijonov EUR (ukrep 4, glej uvodno izjavo 11).
In addition, Spain acknowledges that the guarantees granted by IVF for the loans to Fundacion Valencia, Fundacion Hercules and Fundacion Elche covered in each case 100 % of the underlying loan capital, plus interest and costs of the guaranteed transaction.
Fundacija Fundacion Valencia trdi tudi, da je februarja 2013 izvedla plačilo 5221517,39 EUR banki Bankia za predhodno delno uveljavitev poroštva in ustrezno plačilo v enakem znesku s strani IVF (porok).
Spain also advanced compatibility grounds for measures 1 and 4 (in favour of Valencia CF and Fundacion Valencia) under the 2004 R&R Guidelines, in case the Commission would conclude that they amount to State aid.
V zvezi s tem fundacija Fundacion Valencia trdi, da bi morala Komisija, če bi se določilo, da zadevno poroštvo vključuje element državne pomoči, v svoji oceni upoštevati tudi ta obdobja prekinitve veljavnosti ali neveljavnosti.
As regards return to viability, Spain considers that the 2009 viability plan ensures the long-term viability of Valencia CF.
Komisija je prejela tudi pripombe združenja Liga Nacional de Fútbol Profesional (v nadaljnjem besedilu: profesionalna nogometna liga), tj. športnega združenja vseh športnih delniških družb in nogometnih klubov v prvi in drugi španski ligi, ki sodelujejo na uradnih profesionalnih tekmovanjih na nacionalni ravni.
Furthermore, Spain is of the view that the sale of Valencia CF's most valuable players is an appropriate and proportionate compensatory measure.
Profesionalna nogometna liga v svojih pripombah meni, da ob prvem branju sklepa o začetku postopka ni dovolj jasno, kakšni so morebitni učinki na konkurenco, ki bi lahko nastali zaradi morebitne pomoči, prav tako pa ni jasno, kakšen je učinek na trgovino med državami članicami.
Furthermore, in relation to aid limited to the minimum (own contribution), Spain claims that the participation of private buyers in the 2009 capital increase, amounting to EUR 18,8 million, should be accepted as own contribution.
Poleg tega trdi, da bi morala za sektor športa na splošno in posebej za nogometni sektor, zlasti zaradi njegove priljubljenosti med mladimi, veljati posebna obravnava, kot je to priznano v členu 165 PDEU.
Finally, as regards the ‘one time, last time’ principle, Spain is of the view that it was respected, since measure 4 only includes the increase of 10 November 2010 of the existing guarantee by EUR 6 million, which cannot therefore be considered as a new guarantee and thus new State aid to Valencia CF.
Profesionalna nogometna liga nadalje trdi, da se s športnimi dejavnostmi, ki jih izvajajo profesionalni športni klubi, nedvomno opravlja funkcija javnih storitev, kar pomeni, da v skladu s členom 106(2) PDEU uporaba pravil o konkurenci za te klube ne sme „pravno ali dejansko“ ovirati izvajanja posebnih nalog, ki so jim dodeljene.
According to Spain, measure 4 does not include any other State guarantee, since in February 2013 IVF only paid EUR 4,9 million in order to cover Bankia's partial invocation of the State guarantee due the non-payment of the interest instalment of 26 August 2012.
V zvezi s tem profesionalna nogometna liga trdi, da izjema iz člena 107(3)(c) PDEU, ki kot združljivo z notranjim trgom določa „pomoč za pospeševanje razvoja določenih gospodarskih dejavnosti ali […], kadar takšna pomoč ne spreminja trgovinskih pogojev v obsegu, ki bi bil v nasprotju s skupnimi interesi“, jasno izraža ta vidik.
Finally, the Commission notes that Spain has not provided a plan on the financial prospects of Hercules CF and Elche CF at the time when the State guarantees in their favour (2010 and 2011) were granted.
Poleg tega trdi, da dejstvo, da Komisija do danes ni sprejela smernic o uporabi pravil o državni pomoči v Pogodbi za komercialne športne dejavnosti, pomeni breme pri ocenjevanju tega primera, pri čemer z le podobno uporabo različnih splošnih in heterogenih norm, ki ne veljajo posebej za sektor, ki je predmet preiskave, ni mogoče zagotoviti ustrezne rešitve, saj obstaja jasno in očitno tveganje za pristransko in le delno oceno zadeve, poleg pravne negotovosti, ki s tem nastane.
In addition, Spain has not provided comments on the compatibility of measures 2 and 3 with the internal market on any grounds.
Profesionalna nogometna liga tudi trdi, da bi morala Komisija za oceno domnevne pomoči in njene zakonitosti v skladu s pravom Unije upoštevati nekatera pravila profesionalne nogometne lige, ki se nanašajo zlasti na sprejemanje proračunov klubov, omejitve pri porabi klubov, ekonomsko in finančno zmogljivost klubov, zaščito upnikov, racionalnost pri finančnih sredstvih klubov, spodbujanje odgovorne porabe ter zaščito dolgoročne sposobnosti preživetja in vzdržnosti klubov.
During the formal investigation procedure, the Commission received comments from Valencia CF and Fundacion Valencia, which coincide to a great extent with the comments made by Spain and IVF (see recitals 36-45 above).
Španija je v pripombah na pripombe, ki so jih predložile zainteresirane strani, ponovila svoje stališče, kot ga je izrazila v dopisu z dne 27. aprila 2015, ki je vseboval večino argumentov, opisanih v uvodnih izjavah 36 do 45.
In addition to those coinciding arguments, those interested parties argued the following:
OCENA UKREPOV
Valencia CF argues that the sale of the shares that Fundacion Valencia had acquired in 2009 for a price above the acquisition price of EUR 48,08 per share (see recital 6 above), and the fact that those shares were pledged by IVF for its guarantee, show that IVF acted following the market economy investor principle because of the value of those shares which would cover IVF's risk as a guarantor.
Obstoj državne pomoči
Valencia CF argues that, since the ownership of Valencia CF was transferred in the context of an open and competitive tendering procedure, the aid element was reflected in the market price and included in the purchase price.
V skladu s členom 107(1) PDEU je vsaka pomoč, ki jo dodeli država članica, ali kakršna koli pomoč iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem ali proizvodnji posameznega blaga, nezdružljiva z notranjim trgom, kolikor prizadene trgovino med državami članicami.
Therefore, it is the seller of the shares who keeps the benefit of the aid.
Za ugotovitev, ali gre za državno pomoč, mora Komisija oceniti, ali so kumulativna merila iz člena 107(1) PDEU (tj. prenos državnih sredstev, selektivna prednost, možno izkrivljanje konkurence in vpliv na trgovino znotraj EU) izpolnjena za vsakega od štirih obravnavanih ukrepov.
Valencia CF has submitted that the above is in line with case-law [9].
Državna sredstva in pripisljivost državi
According to Valencia CF, in light of the above, the aid amount of the State guarantee would need to be recovered from the seller, i.e. Fundacion Valencia.
Da bi se ukrep štel za pomoč v smislu člena 107(1) PDEU, mora biti dodeljen neposredno ali posredno iz državnih sredstev in ga mora biti mogoče pripisati državi.
Valencia CF furthermore supports that the aggregated market value of its players [10] together with the fact that its registered capital in the period 2007-2009 was not lost but remained stable and the club returned to profits in 2011 and 2012 could be sufficient to rebut the presumption that Valencia CF was in financial difficulties because it had a negative equity during the 2007-2009 period.
V skladu s sodno prakso se sredstva podjetja štejejo za državna sredstva, če država z uveljavitvijo prevladujočega vpliva na podjetje lahko usmerja uporabo njegovih sredstev [12].
In addition, the open bidding process launched by Fundacion Valencia, the high number of bidders and the purchase price paid by Meriton Holdings Limited confirmed that the real economic value of Valencia CF goes beyond the net value reflected in Valencia CF's annual accounts and includes the market value of its players, the club's brand name and its international projection.
Prenos državnih sredstev ima lahko več oblik, vključno z državnimi poroštvi.
In addition, Valencia CF submits that the calculation of any aid element should take into account the fact that at the time of the measure under scrutiny Valencia CF was not in ‘bad/financial difficulties’ but rather had a ‘satisfactory rating category’ and that the pledge over Valencia CF's shares granted by Fundacion Valencia to IVF should be considered as a ‘high’ or, at least, a ‘normal’ level of collateralisation.
Državna poroštva ogrožajo državna sredstva, ker se unovčujejo iz državnega proračuna.
Valencia CF also argues that the 2009 guarantee would be compatible with the 2009 Temporary Community framework for State aid measures to support access to finance in the current financial and economic crisis [11] which was adopted to address deficiencies stemming from the economic and financial crisis which began in October 2008.
Vsako poroštvo, ki ni ustrezno povrnjeno, za državo pomeni izgubo finančnih sredstev.
Fundacion Valencia submits that its administrative bodies adopted a payment plan which was submitted to Generalitat Valenciana and to Bankia in order for the latter to grant the guarantee and loan in question.
Poleg tega velja, da če se ustvari konkretno tveganje, da bo v prihodnosti državi naloženo dodatno breme v obliki poroštva, to zadostuje za namene člena 107(1) [13].
According to that payment plan, Fundacion Valencia had the obligation to sell all the acquired shares in Valencia CF by 30 June 2015, as follows: (a) in Phase 1, to be concluded on 31 December 2010, Fundacion Valencia would sell at least 47663 shares at the price of EUR 53,5 per share, with proceeds of approximately EUR 2,5 million; and (b) in Phase 2, to be concluded on 30 June 2015, Fundacion Valencia would sell 852452 shares at prices ranging from EUR 53,5 to EUR 67,5 per share.
Komisija najprej ugotavlja, da je vse ukrepe, ki so predmet preiskave, v celoti zagotovil IVF.
Fundacion Valencia marks the deadline of 30 June 2015 as coinciding exactly with the maturity date of the guaranteed loan.
IVF je bil po podatkih, ki so objavljeni na njegovem spletnem mestu [14], ustanovljen z zakonom št. 7/1990 (28. decembra 1990) kot pravna oseba javnega prava, ki spada pod vlado Valencie in naj bi delovala kot glavni instrument javne politike kreditiranja in izvajanja pristojnosti vlade Valencie v finančnem sistemu.
Fundacion Valencia's obligation was to use all proceeds from the sale of the shares to amortise the guaranteed loan.
Na podlagi navedenega Komisija ugotavlja, da je cilj IVF tesno povezan z javno upravo in izvajanjem sklepov javnih organov.
Fundacion Valencia indicates that the sale price of the shares was to be equivalent to their nominal value plus any interest that might accrue on the guaranteed loan over the period in question.
Javna narava dejavnosti podjetja je bistven znak, ki kaže, da je podjetje odgovorno državi [16], zlasti kolikor ga država uporablja kot instrument za izvajanje svoje politike [17] in ne izključno za poslovne namene [18].
Similarly, the sale amount was to be increased if the annual interest on the loan agreement concluded between Fundacion Valencia and Bankia for the acquisition of the shares were to increase (i.e. exceed the agreed 6 %).
Španija ni predstavila nobenih argumentov v zvezi s tem znakom.
Fundacion Valencia adds that the guaranteed loan was to be repaid also with the use of monetary contributions by institutional trustees and third parties (public institutions and private companies) and by recurring income obtained from its regular activities.
Poleg tega se ugotavlja, da predstavniki vlade Generalitat Valenciana sodelujejo v generalnem svetu IVF (glej uvodno izjavo 6).
In this context, Fundacion Valencia submits that the first interest payment due on 27 August 2010 was not possible to be made because of the delay in the sale of shares in Phase 1, causing the increase of the guaranteed loan by EUR 6 million on 10 November 2010 (measure 4, see recital 11 above).
Komisija na podlagi navedenega meni, da je imela državna pomoč jasen in neposreden vpliv na IVF.
Fundacion Valencia also submits that in February 2013 it made a payment of EUR 5221517,39 to Bankia for the prior partial exercise of the guarantee and the corresponding payment of the same amount by IVF (guarantor).
Tega Španija ne izpodbija.
Fundacion Valencia finally submits that the 2009 guarantee was cancelled on 24 October 2014.
Španija poleg tega trdi, da so bili dodelitev zadevnih poroštev in tudi njihovi pogoji v skladu s proračuni, odobrenimi glede na določbe in omejitve, ki jih določa španska zakonodaja, ki se nanaša posebej na IVF (glej uvodno izjavo 37), kar kaže na to, da so zadevni ukrepi vključevali državna sredstva.
However, as a result of various legal proceedings launched in Spain, the guarantee was not always in force and there were some periods in which it did not exist due to the courts having declared it invalid ab initio, and other periods where it was suspended by a court order conceding protective measures.
Glede na navedeno Komisija meni, da so bili ukrepi, ki jih je dodelil IVF, financirani iz državnih sredstev in jih je mogoče pripisati Španiji.
In this context, Fundacion Valencia claims that, should it be determined that the guarantee in question entails some element of State aid, these periods of suspension or invalidity should also be taken into account by the Commission in its assessment.
Selektivna prednost
In its comments, LFP supports that an initial reading of the opening decision does not provide the clarity it should regarding the possible effect on competition that might arise from the potential aid, nor does it provide such clarity regarding the effect on trade between Member States.
V obravnavanem primeru so zadevni državni ukrepi zadevnim fundacijam s kapitalskimi injekcijami omogočili pridobitev delnic v treh klubih, ki so predmet preiskave.
Furthermore, LFP argues that the sports sector in general and the football sector in particular, especially due to its popularity among young people, should be subject to special treatment, as recognised by Article 165 TFEU.
Načrt za sposobnost preživetja iz leta 2009 ne vključuje analize občutljivosti v zvezi s tveganji, ki bi lahko vplivala na finančno uspešnost kluba Valencia CF.
Finally, LFP claims that the sporting activities undertaken by professional sport clubs perform an unquestionable public service function, which determines that in accordance with Article 106(2) TFEU, the application of rules on competition to these clubs must not obstruct the performance, ‘in law or in fact’, of the particular tasks assigned to them.
Manjkali so ključni vidiki te ocene, na primer učinek morebitnih različnih uvrstitev kluba v končnih lestvicah prvenstev, spremembe cen na trgu nepremičnin, na sponzorskem trgu ali radiodifuzijskem trgu, morebitna tveganja v zvezi s sposobnostjo navijačev, da plačajo sezonsko vstopnico ali vstopnice za posamične tekme, tveganje poškodb igralcev, spremembe na trgu prestopov igralcev itd.
In that context, LFP argues that the exception laid down in Article 107(3)(c) TFEU that declares the compatibility with the internal market of ‘aid to facilitate the development of certain economic activities or […] where such aid does not adversely affect trading conditions to an extent contrary to the common interest’ clearly responds to this idea.
Poleg tega so bili finančni rezultati, predvideni v načrtu za sposobnost preživetja, pod ravnjo, ki bi se lahko štela za ustrezno za obnovo dolgoročne sposobnosti preživetja kluba Valencia CF.
Moreover, LFP supports that the fact that to date the Commission has not adopted guidelines on application of the rules on State aid in the Treaty to commercial sporting activities represents a burden when evaluating the present case, with the mere analogous application of various generic, heterogeneous norms from outside the sector under scrutiny being unable to provide an appropriate solution, as there is a clear and evident risk of conducting a biased and partial evaluation of the case, in addition to the legal uncertainty this entails.
Kot je prikazano v preglednici 4, so bile v načrtu za sposobnost preživetja iz leta 2009 dejansko predstavljene izgube iz poslovanja do poslovnega leta, ki se je končalo junija 2013, tj. v štirih letih po dodelitvi ukrepa 1.
Finally, LFP submits that to evaluate the alleged aid and its legality under Union law, the Commission should take certain LFP rules into consideration, referring in particular to the acceptance of the clubs' budgets, the limits in clubs' spending, the economic and financial capacity of the clubs, the protection of creditors, the rationality in the clubs' finances, the promotion of responsible spending and the protection of the clubs' long-term viability and sustainability.
Poleg tega so imeli poslovni prihodki, napovedani za poslovni leti, ki sta se končali junija 2014 in junija 2015, zelo nizko stopnjo dobička iz poslovanja, in sicer 1 % oziroma 4 %.