'Fear nothing' Ronaldo reveals €225m income

90% earned outside Spain, he says in tax filing amid claims he hid image revenue

Cristiano Ronaldo showing off his ball control during training the day after he revealed his income. The Spanish leaders meet Deportivo tomorrow before flying to Japan where they aim to win a second Club World Cup in three years.
Cristiano Ronaldo showing off his ball control during training the day after he revealed his income. The Spanish leaders meet Deportivo tomorrow before flying to Japan where they aim to win a second Club World Cup in three years. PHOTO: AGENCE FRANCE-PRESSE

MADRID • Cristiano Ronaldo published his financial records on Thursday which showed the Real Madrid star declared income of more than €225 million (S$339.4 million) last year as he battled accusations of tax evasion.

The European Investigative Collaborations (EIC) consortium claimed that a huge data leak involving 18 million documents showed the Portuguese skipper hid €150 million from image rights in the British Virgin Islands.

But the 31-year-old has released details of his income last year which he had already passed on to the Spanish tax authorities.

The procedure, known as a "Model 720" and which was apparently presented to tax chiefs in March, showed that Ronaldo earned €203.7 million outside of Spain and €23.5 million inside the country.

"This document confirms that Spain's Tax Agency is knowledgeable of all of Cristiano Ronaldo's assets and income. From now on, the player will not make any further statement on this subject," said a statement released by his management company, Gestifute.

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"As reported in recent days, the player has been aware of his tax obligations right away from the beginning of his professional career in all of the countries in which he has resided, and has not and has never had any issue with the tax authorities of any of those countries."

Earlier on Thursday, Ronaldo seemingly resorted to a proverb to plead his innocence of any wrongdoing.

"You believe I am worried? He who owes nothing, fears nothing," said the superstar after being approached by Portuguese TV station RTP to respond to the allegations.

Ronaldo will also not be having any obligations to fans and corporations when he arrives in Japan for the Club World Cup next week, insisting that he is there for work.

The Portuguese star met a life-size silicon Ronaldo complete with ripped abs, greased-back hair and twitching eyebrows on a commercial visit last year.

He has also appeared in a Japanese commercial to promote a bizarre face-stretching gadget designed to enhance the user's smile.

However, Ronaldo, who rakes in nearly US$90 million (S$128 million) in salary and endorsements yearly, according to Forbes, said that he would be in Japan on a different kind of business as European champions Real chase a second Club World Cup in three years.

"It is a big tournament and I have been lucky enough to win it twice before," he told Japan's Nippon TV, referring to the 2014 tournament and his first personal triumph with previous club Manchester United in 2008. "Of course I want to win it for a third time.

"We are not going to Japan for a holiday. We go there with the sole aim of winning the title and to be crowned the best team in the world."

Real face either Mexico's Club America or South Korea's Jeonbuk Hyundai Motors in the competition's second semi-final in Yokohama next Thursday.

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A version of this article appeared in the print edition of The Straits Times on December 10, 2016, with the headline 'Fear nothing' Ronaldo reveals €225m income. Subscribe