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Just In: Real Madrid to pay Large amount as fine over illegal payment

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Champions League holder and La Liga defending champions Real Marid have been hit with £5.7million fine for illegal payments made to footballers and agents.

According to Palco23 reported that fine was handed out before the end of the 2016-17 financial year as a result of a £9.5m fine for similar reasons a year earlier.

Real Madrid had appealed the earlier but eventually paid it the fine but the article also claims the Spanish Hacienda will open up another investigation on October 25 into Los Blancos’ operations in 2014 and 2015.

And the results of all the investigations will be presented at the annual meeting of all board members this Sunday.

It is understood the focus of the investigation was centered on who should pay the agency fee when a transfer is negotiated.

Real Madrid rejected the charges, claiming the fees were paid “by the player himself”.

Spanish football Authority has been besieged with big-name players incurring the wrath of the taxman in recent years.

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