Real Madrid boss Carlo Ancelotti is being investigated for tax fraud and could face a potential five-year prison sentence if found guilty.
The 64-year-old has been accused by the Spanish authorities for allegedly defrauding the tax man of €1 million euros (£1.1 million).
Ancelotti, who has been in charge at the Bernabeu since 2021, is said to have used shell companies to hide his earnings during his first spell in Madrid from 2013-2015.
Ancelotti still remains the only manager to have won the Champions League four times, twice with Real and twice with AC Milan, and the only one to have won domestic league titles in England, Spain, Italy, Germany and France.
He becomes the next high-profile sports name in Spain to be accused of this type of offence, with Lionel Messi and Cristiano Ronaldo also previously found guilty.
Messi was handed a 21-month prison sentence that was later reduced to a fine by the Spanish courts for offences relating to his time at Barcelona.
Ronaldo received a 23-month sentence and an €18 million euros (£15.3 million) fine linked to his stint at Real.
In an official statement released on Wednesday, The Madrid Provincial Prosecutors’ Office said Ancelotti was "simulating" the transfer of his image rights to entities "lacking real activity" in other countries “so that neither he himself nor any of said companies would have to pay taxes on the large amounts received in Spain or abroad.”
Ancelotti is yet to make any comment on the matter, nor have Real Madrid released a statement on the serious accusations made against their current boss.
His side is due to take on RB Leipzig in their UEFA Champions League second-leg clash on Wednesday evening, having won 1-0 in the first leg of their last-16 tie.
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