Blasket Renewable Investments, a US fund, is pursuing €200mn from Spanish assets in the US linked to a 2013 renewable energy subsidy scrapping dispute. The fund, owed €600mn in awards and interest, has secured legal rights in 10 states where Spain’s World Cup matches are scheduled, aiming to seize assets like hotel rooms or equipment. Spain’s government insists the national football team is unaffected, but Blasket’s legal team is investigating potential claims against entities like Fifa and Adidas.

The conflict stems from Spain’s withdrawal of subsidies under former PM Mariano Rajoy, triggering 50 arbitration claims, with Spain losing 27 cases and accumulating over €1.7bn in liabilities. The European Commission backs Spain, arguing arbitration awards constitute unlawful state aid, while investors cite the Energy Charter Treaty to justify claims. Blasket’s case has reached the US Supreme Court, with a decision expected by June 25.