Carlo Ancelotti, the legendary Italian football manager, is in charge at Real Madrid. Next week, he will stand trial in Spain. Prosecutors have charged him with not reporting millions in income to one of the nation’s tax offices. The charges allege that Ancelotti only declared his Real Madrid salary in his taxes. He purportedly failed to declare his outside income while he was a tax resident of Madrid in 2014 and 2015.
Investigators claim that Ancelotti did establish a “confusing” and “complex” web of shell companies. They allege that he deployed this system to avoid declaring additional earnings, particularly from lucrative image rights agreements. For instance, in 2014, Ancelotti allegedly made $1.33 million in image rights and $3.19 million in 2015. Prosecutors contend that this touted failure deprived the Spanish treasury of more than $1.1 million in undeclared income. As such, Ancelotti is legally obligated to appear at each hearing for the duration of the trial.
After having dismissed the matter in the past as “an old story,” Ancelotti said he was hopeful a quick solution can be found. Though he faces serious legal challenges, his professional accomplishments are nothing short of remarkable. The 65-year-old coach has won a record five Champions League titles, three of them with Real Madrid. In addition to his work on the sidelines, he’s had success as a player, winning the European Cup twice with AC Milan.
Ancelotti’s illustrious coaching career includes a championship stint with all of Europe’s top three leagues. After a successful tenure at Napoli and a rocky one at Everton, he rejoined Real Madrid in 2021. He initially joined the club in 2013, playing there until May 2015. Following that, he transferred to Bayern Munich the following season.
