Real Madrid's head coach, Carlo Ancelotti, is in legal hot water as prosecutors in Madrid charge the esteemed Italian with defrauding the Treasury of over €1 million. The allegations stem from Ancelotti's failure to pay necessary taxes during his initial tenure managing Madrid from 2013 to 2015, despite being registered as a Spanish resident for tax purposes.
Reports suggest that Ancelotti declared his Real Madrid salary but omitted earnings from image rights, diverting the sum to an entity named Vapia Limited. Charged with two crimes against Spain’s Public Treasury, Ancelotti could face a prison sentence of four years and nine months if found guilty. The charges revolve around fiscal years 2014 and 2015, involving undeclared sums of €39,575 and €675,718, respectively.
Prosecutors claim that Ancelotti established a 'complex' network to conceal his image rights earnings, allegedly evading taxes and pursuing opacity. The legal saga unfolds as the football world watches the potential fall of a coaching icon.
