Spain fines Gerard Piqué €200,000 for insider trading

Spain’s National Securities Market Commission (CNMV) imposed a €200,000 fine on former Barcelona defender Gerard Piqué for insider trading tied to shares in Aspy Global Services bought in January 2021. The regulator estimated Piqué earned about €50,000 from the transactions. Piqué placed an order for 104,166 Aspy shares on Jan. 20, 2021, while sidelined with an injury, and exited the position on Jan. 27, 2021.

The CNMV said the trades followed a tip from businessman Francisco José Elías Navarro, who was then a major Aspy shareholder. The regulator described the conduct as a “very serious” market abuse offense and imposed a separate €100,000 fine on Elías for unlawful disclosure. Both men retain the right to appeal the sanctions before Spain’s National High Court.

Atrys Health publicly announced a €223 million tender offer for Aspy on Jan. 26, 2021, six days after Piqué’s purchase. The disclosure lifted Aspy’s share price by roughly 20 percent, according to the CNMV’s findings. The regulator’s decision sets out the timeline: purchase on Jan. 20, public tender on Jan. 26, and sale on Jan. 27.

The CNMV said the fines close the administrative file; any further legal challenge will move to the courts. The case joins other enforcement actions that have involved sports figures and high-profile individuals. In 2016, golfer Phil Mickelson repaid roughly $931,000 after trading on a tip related to Dean Foods. Former Tottenham owner Joe Lewis pleaded guilty to insider trading charges in 2024. British sprinter CJ Ujah was charged in a UK probe into a seed-phrase fraud scheme, and lawsuits stemming from the collapse of the FTX exchange have named athletes including Tom Brady and Stephen Curry.