Spanish Authorities Reject Cristiano Ronaldo's Proposed Settlement for Alleged Tax Evasion

Spain's inland revenue, Agencia Estatal de Administración Tributaria (AEAT), have rejected a settlement offer from Real Madrid star striker Cristiano Ronaldo over charges of tax evasion.

According to AS, Ronaldo's lawyers offered the AEAT a €3.8m settlement plus an admission of wrongdoing, in exchange for dropping criminal proceedings against the player. 

However, sources close to the investigation have told Diario AS that the amount offered is considered to be 'trivial', adding: "There is no way it could be accepted."

Ronaldo stands accused of 'four crimes against the public treasury between 2011-14...which involves tax fraud of 14,768,897 euros ($16.5m, £12.9m)', the public prosecutor's office said in a statement back in June. 

"The accused took advantage of a company structure created in 2010 to hide income generated in Spain from his image rights from tax authorities, which is a 'voluntary' and 'conscious' breach of his fiscal obligations in Spain," it continued.

The forward, who is among the highest paid sports stars in the world, was accused of evading tax via two companies based in the British Virgin Islands and Ireland - charges which he denies.

In July last year, he appeared in court in Madrid denying the allegations saying, as quoted by the Mirror: "In England, I never had these problems, that's why I want to go back there.

"I always paid my taxes, always. In England and in Spain. And I always paid. As you know, I can not hide anything, it would be ridiculous on my part to do such a thing.

"I am an open book. you don't need to do anything but type my name into Google and everything about Cristiano comes out. For example, Forbes magazine releases all of my earnings."

If Ronaldo refuses to offer a larger settlement then the case could be sent to trial. If he were to be found guilty, the superstar could be facing a fine of 'at least €28m' and a three-and-a-half year jail sentence.