Virat Kohli only Indian in Forbes highest paid athletes list, earns $22 mn

Cristiano Ronaldo topped the list with a total pay of $93 mn; Serena Williams sole woman listed

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Current Affairs : Indian cricket captain Virat Kohli is the sole sportsperson from the country to feature among the world’s 100 highest paid athletes in the latest Forbes list topped by soccer star Cristiano Ronaldo.

Kohli, 28, has been ranked 89th on the 2017 Virat Kohli In Forbes List of ‘The World’s highest paid athletes’ with a total pay of $22 million, which includes $3 million from salary and winnings and another $19 million from endorsements.

Describing Kohli as the “Indian cricket phenom”, Forbes said the sports star has “for good reason” already drawn comparisons to all-time great Sachin Tendulkar.

It added that Kohli has continuously shattered batting records and in 2015 was named the captain of the Indian national team, making him one of the youngest players to ever hold the job.

It noted that last year, Kohli made nearly $1 million in salary and match fees from his national team play, and he’s also among the Indian Premier League’s highest-paid players thanks to a $2.3 million salary from Royal Challengers Bangalore.

“The vast majority of his income, however, comes from one of the sports world’s most impressive sponsorships portfolios,” Forbes said.

The list has been topped by Ronaldo with a total pay of $93 million. American basketball star LeBron James comes in at the second spot with $86.2 million, followed by Argentine footballer Lionel Messi (3) with $80 million, tennis star Roger Federer (4) with $64 million and American basketball player Kevin Durant. Read Full Story >>>

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Messi sentenced to twenty-one months for tax fraud

Messi sentenced to twenty-one months for tax fraud

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A court in Spain on Wednesday sentenced Barcelona’s star striker Lionel Messi and his father to 21 months in jail for tax fraud and slapped them with a fine of Euro 3.7 million ($4.1 million).

But these prison sentences are likely to be suspended, as is common in Spain for first offences for non-violent crimes carrying a sentence of less than two years.

The Barcelona court found the Argentina international and his father Jorge Horacio Messi guilty of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying taxes on Euro 4.16 million of Messi’s income earned from his image rights from 2007-09.

The income related to Messi’s image rights that was allegedly hidden includes endorsement deals with Danone, Adidas, Pepsi-Cola, Procter & Gamble or the Kuwait Food Company.

Messi, 29, a five time Federation Internationale de Football Association World Player winner, was fined Euro 2.09 million, while his father was fined Euro 1.6 million.

They can appeal the decision to Spain’s Supreme Court.

Both Messi and his father, who has managed his son’s affairs since he was a child, were charged with three counts of tax fraud.

Messi told the court during the four-day trial that wrapped up on June 4 that he trusted his father with his finances and “knew nothing” about how his wealth was managed.

Prosecutors had asked for Messi to be absolved, arguing there was no evidence that the player was aware of how his income was managed.

But, the state attorney representing tax authorities in the trial, Mario Maza, said he found it unlikely that Messi knew nothing about the situation.

“There is no deliberate ignorance here, it’s fraud and that’s all there is to it, because he didn’t want to pay his taxes,” he said.

“It’s like a crime boss. At the very top is the bigwig who doesn’t want to know about the details.”

Messi and his father made a voluntary payment of Euro 5.0 million – equal to the amount of the alleged unpaid taxes plus interest – in August 2013 after being formally investigated.

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