The Chilean could be sentenced to serve two years in prison, but his lawyers believe that he could walk away with a fine after admitting the charge.

Seems like Alexis Sánchez will have to deal with some legal issues prior to signing a new contract with Arsenal.

The Chilean striker, who's been in scintillating form this season, admitted defrauding the Spanish IRS back in 2012 and 2013 by failing to declare €983,443. The South American ace made this statement via a video link, adding that he already returned the money in order to avoid jail time.

Sánchez's tax money was related to his image rights, which he failed to declare by using an offshore company named Numidia Trading Limited, according to Europa Press.

Attorney David Aineto, who was also in charge of Javier Mascherano's tax evasion case, may be looking to strike a deal such as the one involving the Argentinean, which helped him escape prison time by paying a fine. Furthermore, Spanish tax authorities usually grant pardons for first time offenders, especially if they agree to return the entire amount defrauded while paying an amount yet to be determined.