Cristiano Ronaldo will pay $21.8 million fine to settle tax case

Cristiano Ronaldo has agreed to accept a suspended two-year jail term and total fine of €18.8million ($21.8 million) to end a dispute with the Spanish tax authorities, Omnisport understands.

The Real Madrid superstar was accused last year of defrauding Spanish authorities in relation to the taxation of image rights. He has denied any wrongdoing.

Spanish newspaper El Mundo reported details of a settlement on Friday and Omnisport understands, while it is yet to be formally ratified by lawyers, the terms of an agreement have been reached.

Ronaldo is unlikely to serve any jail time as, under Spanish law, a sentence of less than two years for a first offense can be served on probation.

Portugal's star man can now turn his attention to the World Cup.

The Euro 2016 champions open their campaign against Iberian neighbor Spain in Sochi on Friday.