Spanish Tax Authorities have approved the settlement with Cristian Ronaldo over charges of tax evasion. As part of the settlement, the ex-Real Madrid footballer will pay a fine of 19 million euros and will be sentenced to two years in prison.

Legal sources have informed Spanish news agency, Agencia EFE, that the agreement stipulates that Ronaldo, who will now reside in Italy, will avoid prison time in exchange for pleading guilty to four tax crimes of which has been convicted.

The settlement had been reached was pending the approval of Spain’s Inland Revenue, which was the body that brought the charges against Ronaldo and whose direction had recently been replaced as a result of the change of government in Spain. The new directors of the revenue office have agreed to accept the player's settlement offer.

The 33-year-old was accused in June 2017 of defrauding the country's tax authorities of 14.8 million euros from image rights income, between 2011 and 2014.