Real Madrid Coach Ancelotti in Hot Water over Tax Fraud Accusations
All in All, Spanish Football Seems To Have the Knack for It…
The recent Coach Ancelotti news, the well-known coach of the Real Madrid, is that he is in a bit of a sticky situation. Apparently, the Spanish tax office has pointed fingers at him for playing hide and seek with some cash. Let’s take a look-see.
The Scoop
Ancelotti, during his first term as Real Madrid’s coach, of this La Liga team, back in 2014, allegedly kept a cool €400,000 hidden under wraps. This money came from his image rights deal, a fancy term for the money he gets for letting folks use his image for ads, endorsements, and such.
The person leading the investigation, Judge MarÃa Inmaculada Lova, has finished her work. She says that Ancelotti covered up his image rights earnings during his time with the club.
Ancelotti has stepped up and accepted the tax fraud claims, saying he got bad advice. So, it looks like there’s a good chance he’ll make peace in an upcoming trial. He’s likely to get a prison sentence but won’t have to cough up the hidden money or any additional fines. Plus, the judge has apparently given him a free pass on another tax issue from 2015.
Spanish Football Recurring Tax Troubles
This isn’t a first: big names in Spanish soccer have been under the tax office’s microscope before. Cristiano Ronaldo, the former La Liga player star, was charged with tax evasion for four years and got a suspended two-year prison sentence.
Lionel Messi from Barcelona also faced a similar situation for tax fraud between 2007 and 2009, getting a suspended 21-month sentence. And don’t forget Gerard Pique: he was hit with a €2.1 million bill for image rights fraud. It seems like a recurring issue in Spanish football…
Ancelotti’s Glorious Career
Besides all the bad Coach Ancelotti news, let’s not forget, Ancelotti is a real legend in the soccer world. He’s a UEFA Champions League record holder with four wins, two with AC Milan and two with Real Madrid.
As a player, he scored victories in the European Cup in 1989 and 1990 with AC Milan, making him one of seven to win the Cup both as a player and a manager. He’s the only coach to bag league titles in all of Europe’s top five leagues. Not to mention he’s secured three FIFA Club World Cup titles and four UEFA Super Cups.
Keep your eyes peeled for updates on Ancelotti’s tax case. Only at Point Spreads.
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