Carlo Ancelotti, Real Madrid manager since 2021, could be in hot water should he be found guilty of tax fraud, elDiario reports.
Spanish prosecutors are calling for the Italian to be imprisoned up to five years for tax fraud, stating that he has defrauded the Spain Treasury of over €1,000,000.
This fraud is a result of failing to declare the full income he got from his image rights in 2014 and 2015. According to elDiario, Ancelotti reported just €40,000 in 2014 and €530,000 in 2015, yet his actual income was €1,000,0000 and over €4,000,000 respectively.
Ancelotti is accused of using companies to funnel these earnings, so as to avoid paying taxes.
Spanish prosecutors also accuse the former Chelsea, AC Milan and Napoli manager of failing to declare two houses he owned outside Spain, calculating the final figures to be over €383,000 in 2014 and over €675,000 in 2015 that the Real Madrid gaffer owes in taxes.
Ancelotti was manager of the Spanish giants from 2013 to 2015, a stint during which he won the UEFA Champions League. He has managed top clubs in all the top five leagues in the world, and won league titles there.
He won the Premier League with Chelsea, the Italian Scudetto with AC Milan, the LaLiga title with Real Madrid, the German Bundesliga with Bayern Munich, and the French Ligue 1 title with Paris Saint Germain.
Ancelotti will not be the first high profile football professional that would be pinned with tax evasion accusations in Spain. Portugal’s Cristiano Ronaldo and Argentina’s Lionel Messi also fought the Spanish authorities regarding tax while they were playing and residing in Spain.
