Julius Okorie
Real Madrid manager Carlo Ancelotti has defended himself of tax fraud allegation in Madrid Court, insisting he never committed any fraud, and “never thought about committing fraud.”
Join our WhatsApp ChannelThe 65 year old former PSG boss said if indeed there is any iota of truth in unremitted funds financial advisors are to be blamed.
Recall that Primebusiness.africa had reported that the Madrid boss will have a date with court on April 2.
During his testimony at the Provincial Court of Madrid, Ancelotti explained that he was presented with a net annual salary of 6 million euros (£5.1 million) from the club. He added that he entrusted the financial structuring of this salary to his financial advisors, believing that everything was in order and compliant with the law.
“For me, everything was in order,” he stated, emphasizing his conviction about his financial dealings.
Ancelotti defended his position by highlighting that during his tenure, it was common practice among players and coaches to manage their tax obligations similarly.
“I thought it was quite normal because, at that time, all the players and the previous coach had done the same,” he remarked, suggesting that the expectations around image rights were different for coaches compared to players since coaches typically do not benefit from merchandise sales like jerseys.
The charges against Carlo Ancelotti stem from accusations of failing to pay approximately 1 million euros (£830,000) in taxes on his salary from his first tenure at Real Madrid, which lasted from 2013 to 2015.
Ancelotti, who returned to Real Madrid for a second time in 2021, is now facing serious legal repercussions, with prosecutors pursuing a prison sentence of four years and nine months, along with a hefty fine of 3.2 million euros (£2.7 million).
READ ALSO:Alleged Tax Fraud: Ancelotti To Face Madrid Court April 2
The crux of the allegations revolves around Ancelotti’s omission of income from image rights on his tax returns, despite reportedly paying taxes solely on his Real Madrid salary.
Ancelotti who tops the list of coaches being approached to lead Brazil in continuation of their World Cup qualifier following the sacking of Dorival Junior after 4-1 thrashing by Argentina, is not the only one to have faced tax fraud allegation in the course of working in Spain.
The recurring decimal puts a question mark over whether it is the fault of the coaches and players involved or institutional failure in the Spanish football.
In 2017, Barcelona forward Lionel Messi was fined 252,000 euros after avoiding a 21-month prison sentence linked to tax evasion.
In 2019, Real Madrid’s Cristiano Ronaldo accepted an out-of-court settlement that involved paying 18.8 million euros in fines for similar tax offenses.
Former Real Madrid manager José Mourinho was not left out as he was also fined 2.2 million euros for tax issues during his time at the club from 2011 to 2012.
Julius Okorie is Chief Sports and Entertainment Correspondent for Prime Business Africa. He began his journalism career with the Champion Newspaper and Sporting Champion and later moved on to Daily Independent and the Nation Newspapers. Okorie joined Prime Business Africa in 2024 bringing on board 20 years of experience in writing investigative news on Sports and Entertainment. His well researched and highly informative articles on Sports Business and general entertainment are followed by a wide range of audience.
