Madrid , Spain ( CNN ) -- Did Real Madrid , FC Barcelona and five other Spanish football clubs get unfair advantage over their rivals through various government support measures potentially worth millions of dollars ? That 's what the European Commission wants to know , and it announced in Brussels , Belgium , on Wednesday an `` in-depth investigation into public funding of certain '' clubs . `` Professional football clubs should finance their running costs and investments with sound financial management rather than at the expense of the taxpayer , '' European Commission Vice President Joaquin Almunia said in a prepared statement . `` Member States and public authorities must comply with EU rules on state aid in this sector as in all economic sectors , '' said Almunia , a Spaniard who is reportedly an avid fan of Spanish football . The seven clubs under investigation are Real Madrid , FC Barcelona , Athletic de Bilbao , Osasuna ( of Pamplona ) , Valencia , Hercules ( of Alicante ) and Elche . Spanish Foreign Minister Jose Manuel Garcia-Margallo said Monday that all the operations analyzed were in accord with Spanish law and that he expects the investigation to end once European officials get more information . Garcia-Margallo on Monday made public the inquiry , two days before Brussels officially announced it . Spanish media reported that the seven clubs either professed innocence or had no immediate comment . The EC will first investigate `` possible tax privileges for Real Madrid , FC Barcelona , Athletic de Bilbao and Osasuna , '' Almunia 's statement said . These four clubs are not private companies but instead have key decisions , such as the election of club president , done by their thousands of season-ticket holders . They were `` exempted from the general obligation for professional football clubs to convert into sport limited companies '' and currently have a lower tax rate than other clubs , the statement said . In a separate inquiry , the EC `` will assess whether a widely reported land transfer between the City of Madrid and the club Real Madrid involved any state aid in favor of the club , '' the statement said . The land swap involved Real Madrid 's old training grounds , near its home Bernabeu stadium , which became the site of four office and hotel skyscrapers , while the training ground was moved farther from downtown , near the airport . `` This swap was based on a re-evaluation of a plot of land at a value of 22.7 million euros , instead of its earlier supposed value , in 1998 , of 595,000 euros , '' the EC statement said . The investigation will also look into state-backed loans of about 110 million euros to three clubs operating in the Valencia region -- Valencia , Hercules and Elche , the statement said . It will look into whether the alleged activities provided `` advantages to specific clubs that carry out economic activities in the EU internal market , '' the statement said .
EC seeks to know if government support gave the clubs an unfair advantage over rivals . It announces `` in-depth investigation into public funding of certain '' clubs . Spain 's foreign minister says all the operations analyzed complied with Spanish law . The report is expected in a few weeks, and will be made available for publication on Tuesday.