Gerard Piqué, the retired Spanish football star, was fined €200,000 by Spain’s CNMV for insider trading after purchasing Aspy Global Services shares two days before its €223mn takeover by Atrys Health became public. The regulator called the act a “very serious offence,” noting Piqué bought 104,166 shares on January 20, 2021, and sold them before the market close on January 27, when Aspy’s stock surged 20%. Piqué’s tip came from Francisco José Elías Navarro, a businessman fined €100,000 for unlawfully disclosing non-public information.

Both face appeals at Spain’s National High Court. The case highlights growing scrutiny of sports figures in high finance, as seen in past cases involving Phil Mickelson and Joe Lewis, though Piqué’s penalty directly ties to proven market manipulation. The Aspy-Atrys takeover later sold for €145mn to Grupo Echevarne in 2024.