Fund targets Spain national team payments at World Cup in asset seizure bid | OneFootball

Spain faces the threat of multi-million asset seizures in the United States, with its national team targeted during the World Cup as a fund pursues unpaid renewable-energy arbitration awards.

According to El Periódico Mediterráneo, Spain has spent years resisting payment of compensation ordered by international tribunals over cuts to renewable subsidies introduced more than a decade ago under Mariano Rajoy. Awards and interest now exceed more than 2,300 million euros, comprising 1,763 million in compensation and 543 million in interest on arrears.

Opportunistic funds that bought the claims are pushing enforcement. The largest, Blasket Renewable Investments, is intensifying its search for Spanish state assets in the US and has filed several applications in the Federal Court for the District of Columbia, Washington DC, to locate money or property, with the national team in its sights.

The fund wants US courts to seize payments the Real Federación Española de Fútbol is due to make during the team’s stay in the US for the tournament. The move is tied to a CIADI award of 40 million euros to RREEF for Spain’s subsidy cuts, an amount that has risen to 74 million with interest.

Blasket has sent legal notices to FIFA, to Adidas, to hotel groups including Hilton where the team will stay, to the high-performance training complex, and to the specialist logistics firm handling equipment transport.

Source: El Periódico Mediterráneo