CRISTIANO RONALDO has "agreed to accept a two-year suspended prison sentence and pay a whopping £16.5million fine", according to reports in Spain.

The Real Madrid superstar had been seeking an agreement after being accused of defrauding the government in unpaid tax.

3 Cristiano Ronaldo 'has reached an agreement to pay Spanish government £16.5million' Credit: Reuters

A settlement was thought to have been reached for a while but it hinged on the new government.

Ronaldo admitted four charges of fraud meaning under Spanish law he wouldn't need to face any time in jail.

El Mundo reported that Ronaldo offered around £12.9m in June last year which was rejected by the government.

The latest fine covers fees from authorities, fines and commission but he can now put the issue behind him.

Portugal star Cristiano Ronaldo tells journalist they ‘are going to beat Spain’ in World Cup opener

3 Cristiano Ronaldo can now but his tax fraud case behind him Credit: EPA

3 Cristiano Ronaldo is thought to be unhappy at Real Madrid Credit: EPA

Portugal and Ronaldo train and at their Kratovo World Cup base

Meanwhile, Real Madrid have reportedly offered the former Manchester United man a contract worth a basic £425,000-a-week plus bonuses.

Ronaldo is understood to be unhappy at the club, primarily down to a lack of protection over his tax issues and the fact his salary is dwarfed by his two biggest rivals.

He earns around £350,000-a-week, which pales in comparison to Neymar's £619,000, while Lionel Messi pockets a staggering £673,000 every seven days.

Real Madrid's offer includes bonuses worth up to a maximum of £6.45m-per-season.