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Cristiano Ronaldo's tax woes add $3.7 mln fine

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News video: Cristiano Ronaldo's tax woes add $3.7 mln fineCristiano RonaldoCristiano Ronaldo

Soccer icon Cristiano Ronaldo will be fined $3.7 million after settling a tax evasion case with Spanish authorities, but the total charges could go up to over $21 million by the time the dust settles.

Matthew Larotonda reports.


Cristiano Ronaldo's tax woes add $3.7 mln fine

The tax man cometh for one of the soccer world's biggest names.

Spanish authorities will fine Cristiano Ronaldo $3.7 million after he settled a tax evasion case with them.

He's also expected to pay $6.6 million of the back taxes they say he owes plus interest -- a reduction from the $17 million prosecutors originally demanded, among other fees.

And, there's another related case pending against him that could bring his total costs to over $22 million by the time the dust settles.

Ronaldo denies the government's allegation that he illegally hid his money through companies in Ireland and the British Virgin Islands.

But either way, none of this may amount to much for the star.

According to Forbes magazine he's estimated to earn about $108 million a year, making him the world's third highest paid athlete.

Authorities also sentenced him to 24 months in prison but he's unlikely to do any time.

It will probably be served on probation.

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