Atletico Madrid president Jesus Gil has been sentenced to three-and-a-half years in jail after being found guilty of fraud by Spain’s high court.

The controversial pesident has also been fined €16 million. However, both the fine and the prison sentence are subject to an appeal, although Gil will be forced in the short term to relinquish his position as the club’s president. Gil currently owns 95 per cent of the Atletico Madrid shares.

The sentence relates to an investigation into Atletico Madrid’s transformation into a public limited company. Miguel Angel Gil, the president’s son, was sentenced to 18 months and club director Enrique Cerezo was given a one-year sentence.

The sentence is the latest in a string of convictions for Gil. Last year, he was jailed along with six co-defendants after he was accused of siphoning off €27 million of municipal funds in his role as Mayor of Marbella.