Alleged Tax Fraud: Carlo Ancelotti Faces Four Year Jail If…

Carlo Ancelotti, the esteemed head coach of Real Madrid, has become entangled in a tax case that could send him to jail for up to four years it has emerged.

The charges leveled against Ancelotti are grave, alleging tax fraud amounting to a staggering £800,000 (approximately €1 million) defrauded from the Spanish Treasury. These allegations trace back to his initial tenure at Real Madrid between 2013 and 2015, specifically revolving around his handling of earnings from image rights.

At the heart of the case lies Ancelotti’s alleged manipulation of his image rights earnings. Prosecutors assert that while Ancelotti did declare his salary from Real Madrid, he conveniently omitted income derived from his image rights. Instead, he purportedly funneled these earnings through a labyrinthine network of trusts and companies, aiming to obscure the true beneficiary of the income and evade taxes both domestically and internationally.

The intricate web of transactions outlined by prosecutors paints a picture of calculated financial maneuvering. Ancelotti is accused of transferring his image rights to Vapia Limited for a hefty sum of £21 million (€25 million) in 2013, shortly after joining Real Madrid. Subsequently, he allegedly renegotiated the terms, reducing the duration to three years and significantly lowering the sale price to £854,000 (€1 million). Furthermore, prosecutors claim that Ancelotti divided his image rights, with 50% purportedly assigned to Real Madrid under a private contract, while the remaining 50% were allegedly controlled by an unnamed company, Vapia LLP, based in London.

This convoluted arrangement, according to prosecutors, facilitated a deceptive facade where Vapia LLP presented itself as the rightful owner of Ancelotti’s image rights to Real Madrid, despite lacking formal authorization. The scheme allowed Ancelotti to sidestep tax obligations associated with his image rights earnings, both in Spain and internationally.

Throughout his residency in Spain, Ancelotti allegedly failed to disclose the full extent of his income derived from the exploitation of his image rights in his tax declarations for the years 2014 and 2015. These omissions, as outlined by prosecutors, amounted to significant sums and formed the crux of the tax evasion charges against him. As the legal proceedings unfold, Ancelotti’s future hangs in the balance, with the specter of a lengthy prison sentence casting a shadow over his once illustrious career.

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