Falcao to admit to tax fraud

Colombia's Radamel Falcao, who played for Atletico Madrid between 2011 and 2013, will plead guilty to tax fraud in Spain and pay a fine of 6.9 million euros in order to avoid a trial, a source on his legal team said on Saturday.

Falcao, who now plays in the French league for Monaco, was accused of not properly declaring around 5.6 million euros earned in image rights between 2012 and 2014.

The striker will plead guilty, taking sole responsibility, confirming reports in Spanish newspaper El Mundo.

Falcao paid 8.2 million euros to the Spanish authorities in July so the agreement will result in around 1.3 million euros being returned to the player, the source said.