Real Madrid manager Carlo Ancelotti facing nearly five years in prison on tax-fraud charges
Spanish state prosecutors have accused the Italian coach, who has won the Champions League twice with Madrid, of using shell companies to hide parts of his income.
Wednesday 6 March 2024 15:58, UK
Real Madrid football manager Carlo Ancelotti is facing nearly five years in prison after being accused of tax fraud in Spain.
Spanish state prosecutors are accusing the Italian coach of using a "confusing" system of shell companies to hide parts of his income during his first stint at the LaLiga club a decade ago.
The former Chelsea and Everton manager is accused of two counts of tax fraud, which is punishable by up to four years and nine months in prison.
They accuse the coach of having defrauded €1million (around £855,000) in 2014 and 2015.
The prosecutors claim that during the period in question, Ancelotti only declared the income he received from Real Madrid and did not declare income from image rights.
They accuse him of allegedly setting up shell companies to hide his extra earnings.
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Ancelotti, 64, coached Real Madrid from 2013-2015 before rejoining the club in 2021.
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He is one of football's most successful coaches, winning league titles in all five of Europe's top leagues and also securing four Champions League triumphs, two with AC Milan and two with Real Madrid.
Ancelotti also won the Premier League with Chelsea in 2010.
Before turning to management he had enjoyed a successful playing career, winning the European Cup twice as a midfielder for AC Milan and making 26 appearances for Italy.