Spanish prosecutors have recommended a jail term of four years and nine months for Real Madrid coach Carlo Ancelotti, accusing him of failing to report earnings to the tax office on Wednesday.

The Madrid state prosecutor's office alleges that the 64-year-old Italian failed to declare over one million euros in earnings from image rights in 2014 and 2015, costing Spain's treasury.

According to prosecutors, Ancelotti allegedly used a "confusing" system of shell companies to conceal his additional earnings from image rights and real estate. They also claim that he simulated the transfer of his image rights to entities outside Spain to avoid transparency with the Spanish treasury.

Ancelotti reportedly earned 1.24 million euros in 2014 and 2.96 million euros in 2015 from the sale of his image rights. While a trial date has not been set, a judge leading the investigation revealed that Ancelotti had acknowledged actions that deprived the treasury of funds, potentially paving the way for a settlement agreement with prosecutors.

Ancelotti, considered one of the greatest coaches of all time, addressed the issue briefly, expressing hope for a swift resolution. Ancelotti, who has a decorated career, has won the Champions League four times and has achieved domestic league titles in various countries.

Spain has recently intensified efforts to tackle tax evasion in football, with high-profile players and coaches like Lionel Messi, Cristiano Ronaldo, and Jose Mourinho facing legal consequences. Superstar artist Shakira also reached a settlement in a tax fraud case.