The Juventus forward and Portugal captain has accepted a €18.8m (£16.5m) fine for tax evasion after making a deal in court in Madrid.

He had previously been accused by tax authorities of defrauding €14.8m over four years between 2011 and 2014.

Ronaldo agreed to the deal with Spanish prosecutors and tax authorities, admitting to committing tax fraud while playing for Spanish football team Real Madrid, according to reports.

Miles Dean said that:

“As possibly the best known football player in the world, Ronaldo is low-hanging fruit for the Spanish tax authorities.

“The threat of a criminal conviction has led him to strike a deal, when his case should really have been heard in the tax courts, as it would appear that it has merits.

“Like Gareth Bale, Ronaldo went to some effort to implement a structure that was not overtly aggressive, unlike some other lesser known players.

“It seems, however, that tax authorities in Spain and the UK are not willing to consider the reality of image rights arrangements. Instead, they would rather see them either as disguised remuneration or, as in Ronaldo’s case, skew the rules to fit the desired outcome, namely, a successful prosecution.”

Read Miles’ comments in Economia and International Adviser