MADRID: A Spanish court today sentenced former Real Madrid manager Carlo Ancelotti to a year in prison after finding him guilty of tax fraud in 2014.
Prosecutors allege Ancelotti, who now manages the Brazil national team, used a network of offshore companies to hide additional income through image rights during his first seasons with Real Madrid in 2014 and 2015.
The 66-year-old coach, considered one of the most successful managers in the history of world football, is said to have failed to declare income of more than one million euros, and the prosecution had previously demanded a prison sentence of four years and nine months for him.
In a trial held in April, Ancelotti denied knowingly committing fraud, claiming he was unaware that receiving part of his salary through image rights could result in illegal tax deductions.
The Madrid court in its ruling stated that Ancelotti was convicted of crimes ‘against the state treasury’ and sentenced to one year in prison and a fine of 386,361 euros.
However, since the sentence is under two years and Ancelotti has no criminal record, he will not be imprisoned as provided for by Spanish law.
The court also acquitted Ancelotti of the charge for the 2015 assessment year, after failing to prove that he was still residing in Spain at that time.
He moved to London after his contract with Real Madrid expired in May 2015.