Carlo Ancelotti Concludes Tax Fraud Trial In Spain

Carlo Ancelotti Concludes Tax Fraud Trial In Spain

Real Madrid coach Carlo Ancelotti has concluded his tax fraud trial in Spain, where public prosecutors have leveled serious accusations against him. They are seeking a sentence of four years and nine months in prison, accusing the 65-year-old coach of concealing income from the Spanish tax authorities…READ MORE…

The case centers around allegations that Ancelotti failed to report over one million euros in income related to his image rights during his first stint at Real Madrid between 2014 and 2015. Prosecutors claim that Ancelotti set up a “complex” network of shell companies to hide his earnings, only declaring his salary and excluding substantial income from image rights and other ventures, including real estate investments.

In their closing arguments, prosecutors stated that the acts of fraud, concealment, and omission were clearly proven, and they reiterated their demand for a lengthy prison sentence.

Ancelotti, known for his remarkable career that includes five Champions League titles, including three with Real Madrid, denied the charges of intentional tax fraud. He explained that upon joining the club, he set up a legal structure based on the club’s advice, which allowed him to receive a portion of his salary—specifically 15 percent—as image rights. He maintained that he did not see this arrangement as a form of tax evasion, as it was a common practice among players and coaches at the time, including his predecessor, José Mourinho.

The trial’s outcome is expected to have significant ramifications, not only for Ancelotti’s career but also for financial practices within professional sports in Spain.