Modric reaches Spanish tax settlement to avoid jail
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Real Madrid midfielder Luka Modric has reached a deal with Spanish prosecutors, admitting he evaded taxes and agreeing to an 8-month jail sentence likely to be converted into a fine.
The Croatian star, one of the favourites to win the Ballon d’Or in December, has been accused of evading 870,728 euros on revenue from his image rights in 2013 and 2014 via a shell company set up in Luxembourg.
In January, the 33-year-old gave evidence to a court that he had already paid tax authorities close to 1m euros – the sum he allegedly evaded plus interest.
The deal reached with prosecutors involves him paying a fine that represents 40 percent of the amount allegedly evaded – or just under 350K euros.
Modric can also convert his jail sentence to another fine of 250 euros a day, which would total around 60K euros.
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