• Monday, April 22, 2024
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Real Madrid Boss Carlo Ancelotti Faces Tax Fraud Charges

Ancelotti

Spanish state prosecutors have levelled accusations of alleged tax fraud against Real Madrid coach Carlo Ancelotti, claiming the 64-year-old Italian utilized shell companies to conceal portions of his income during his initial tenure at the club in 2014.

In a statement released on Wednesday, Madrid’s regional state prosecutor accused Ancelotti of two counts of tax fraud from 2014 to 2015 regarding his earnings for image rights that add up to over €1 million ($1.09m).

According to the prosecutors, Ancelotti purportedly only reported income received directly from Real Madrid during that period, neglecting to disclose earnings from image rights. They further accused him of establishing a complex network of shell companies to obscure his additional income.

The 64-year-old Ancelotti served as Real Madrid’s coach from 2013 to 2015 before returning to the club in 2021.

A highly accomplished figure in football, Ancelotti holds the distinction of being the only coach to have won the Champions League four times – twice with Madrid and twice with AC Milan. Additionally, he is the sole coach to have secured domestic league titles in England, Spain, Italy, Germany, and France.

Spain has intensified its scrutiny of prominent football figures who have allegedly evaded tax obligations.

Former Madrid coach Jose Mourinho received a one-year suspended sentence after admitting guilt for tax fraud in 2019. Likewise, star players Lionel Messi and Cristiano Ronaldo have faced convictions for tax fraud in Spain.

Spanish state prosecutors have leveled accusations of alleged tax fraud against Real Madrid coach Carlo Ancelotti, asserting that he utilized shell companies to conceal portions of his income during his initial tenure at the club a decade ago.

In a statement released on Wednesday, Madrid’s regional state prosecutor accused Ancelotti of two counts of tax fraud from 2014 to 2015 regarding his earnings for image rights that add up to over €1 million ($1.09m).

According to the prosecutors, Ancelotti purportedly only reported income received directly from Real Madrid during that period, neglecting to disclose earnings from image rights. They further accused him of establishing a complex network of shell companies to obscure his additional income.

The 64-year-old Ancelotti served as Real Madrid’s coach from 2013 to 2015 before returning to the club in 2021.

A highly accomplished figure in football, Ancelotti holds the distinction of being the only coach to have won the Champions League four times – twice with Madrid and twice with AC Milan. Additionally, he is the sole coach to have secured domestic league titles in England, Spain, Italy, Germany, and France.

Spain has intensified its scrutiny of prominent football figures who have allegedly evaded tax obligations.

Former Madrid coach Jose Mourinho received a one-year suspended sentence after admitting guilt for tax fraud in 2019. Likewise, star players Lionel Messi and Cristiano Ronaldo have faced convictions for tax fraud in Spain.