Real Madrid and Portugal star Cristiano Ronaldo was accused by Spanish prosecutors in June last year of defrauding tax authorities of £12.9million (€14.8million).

He initially denied allegations that from 2011 to 2014 he defrauded the Spanish treasury when he appeared in court last year.

Ronaldo allegedly concealed income from image rights sales through an opaque financial structure which involved diverting money via Ireland into a tax haven.

Since then, lawyers representing Ronaldo are understood to have been negotiating with the treasury about a settlement.

But the former Manchester United ace has now pleaded guilty to four charges of fraud and accepted a prison sentence and a fine worth £16.5million (€18.8million), according to Spanish newspaper El Mundo.

Ronaldo, 33, will not face any time behind bars because he has no previous convictions.

Under Spanish law, a sentence of two years or under can be served on probation providing the offender has no prior convictions.

The allegations have echoes of the case against his greatest rival Lionel Messi, who was last year fined 3.5million (€4.1million) after being found guilty of tax fraud. (Daily Star)