Falcao to plead guilty to tax fraud in Spain

Colombian striker Radamel Falcao, who played for Atletico Madrid between 2011 and 2013, will plead guilty to tax fraud in Spain and pay a fine of €6.9 million ($10.5m) in order to avoid a trial, a source on his legal team said on Saturday.

Radamel Falcao in action for Atletico Madrid Source: Getty Images

Falcao, who now plays in the French league for Monaco, was accused of not properly declaring around €5.6m earned in image rights between 2012 and 2014.

The striker will plead guilty to the charge, taking sole responsibility, a source on his legal team said, confirming reports in Spanish newspaper El Mundo.

Falcao paid €8.2m to the Spanish authorities in July so the agreement will result in around €1.3m  being returned to the player, the source said.

The Spanish prosecutor's office was unavailable to confirm the reports.

Spanish authorities have investigated numerous football players for allegedly failing to properly declare earnings from image rights, including superstars Lionel Messi and Cristiano Ronaldo.

In 2016 Barcelona's Messi and his father were found guilty of tax fraud to the tune of €4.1m over income earned from image rights.