Former Manchester United manager Jose Mourinho has accepted a one-year prison sentence for tax fraud but he will not serve any jail time after exchanging the sentence for a fine.

Spanish prosecutors said Mourinho, 56, failed to declare revenues from image rights in Spanish tax declarations from 2011 and 2012, when he was coach of Real Madrid, "with the aim of obtaining illicit profits". 

The filing said the tax ministry and Mourinho's defence team had agreed to exchange the 12-month prison sentence with a daily fine of €250 for 24 months, equivalent to €182,500, as under Spanish law jail terms under two years can be served under probation.

The court filing said Mourinho leased his image rights to companies based in the British Virgin Islands and Ireland in 2004 but left those earnings out of his tax returns from 2011 and 2012, when he was coach of Real Madrid and a fiscal resident in Spain, "with the aim of obtaining illicit profits".

As well as the one-year prison sentence, Mourinho has been fined €1.9million, 60% of the amount defrauded, as well as €121,764 in interest.