Gerard Piqué Fined €200,000 for Insider Trading After Making €47,000 on the Stock Market

€200,000 Fine from Spain's Markets Regulator

Former Barcelona and Spain defender Gerard Piqué has been fined €200,000 by Spain's financial markets regulator, the CNMV (Comisión Nacional del Mercado de Valores), after being found to have traded shares using privileged inside information. His associate Francisco José Elías — who tipped Piqué off — received a separate fine of €100,000. The combined penalty totals €300,000.

What Happened

On January 20, 2021, Piqué purchased 104,166 shares in Aspy Global Services, a healthcare company, after being informed by Elías that Aspy "was about to be bought by a larger group, called Atrys" — information that was not yet public.

Just two days later, on January 22, 2021, Atrys Health's takeover bid for Aspy was publicly announced, causing Aspy's share price to surge approximately 20%. Piqué sold all his shares on January 27 — one week after buying them — locking in a profit of approximately €47,000.

Why Piqué's Fine Is Double Elías's

The CNMV imposed a larger penalty on Piqué than on Elías because Piqué was the one who actively traded on the privileged information. Elías, who merely passed on the tip, received the lower fine of €100,000. Both fines are administrative decisions which can be appealed to Spain's National Court.

Neither Piqué nor Elías has made any public statement in response, and no appeal has been announced.

Not His First Controversy

Piqué was previously investigated in 2019 over €35 million allegedly linked to the relocation of the Spanish Super Cup to Saudi Arabia — a matter he has always denied wrongdoing over. He retired from professional football in 2022 and is now owner of FC Andorra and founder of the Kings League seven-a-side football format.

This article is based on reporting from The Olive Press, published May 11, 2026.