Former MotoGP world champion Valentino Rossi has agreed to pay €35 million to Italy's tax agency after coming to an agreement following a lengthy probe.
A statement before a news conference in Rome on Tuesday said the 28-year-old will pay €19 million for the period 2001-2004 with payments for 2005 and 2006 making the total figure around €35 million.
The tax agency said in August that the winner of seven world titles was being investigated for tax evasion linked to his decision in 2000 to take up residence in Britain.
Rossi could have faced a bill for as much as €112 million.
