The Spanish Football Federation (RFEF) helped Atletico Madrid with payments to the value of €11m, reports Marca.
Atleti then planned to reimburse the RFEF via payments from UEFA from their participation in European competition, while it is understood that Los Rojiblancos are the only club to have received this type of assistance from the RFEF.
On page 22 of the RFEF’s account sheets, deposited at the Mercantile Registry, their auditor noted the federation paid €3.5m up front in 2012 and another €7.5m in 2013, and also noted that this kind of financial activity was not common practice.
The report claims the IOU’s Atleti issued were accepted by the RFEF as they were counterbalanced by income due from UEFA, money that would later be sent from UEFA via the RFEF.
It is understood the RFEF received the UEFA money and, in Atletico’s case, retained the advanced sums.