King Felipe of Spain renounces inheritance from father Juan Carlos in surprise statement

Juan Carlos abdicated in 2014

The Spanish royal court released a lengthy statement concerning King Felipe on Sunday night. It confirmed that the king, 52, has renounced any future inheritance from his father Juan Carlos, 82, after the former monarch's reported connections to an alleged financial scandal.

The statement from Casa Real read: "King Juan Carlos is aware of his decision to renounce the inheritance of Juan Carlos that could personally correspond to him, as well as to any asset, investment or financial structure whose origin, characteristics or purpose may not be in accordance with the legality or with the criteria of rectitude and integrity that govern his institutional and private activity and that they must report the activity of the Crown."

READ: How royal families have been affected by the coronavirus pandemic

It also declared that Juan Carlos would lose his public allowance from the state's general budget. The former king, who abdicated in 2014 after a number of alleged controversies, officially retired from public life in June 2019. He reigned for 39 years and married Princess Sofia of Greece and Denmark.  The couple have three children together – Elena, Cristina and Felipe.

MORE: Queen Mathilde's incredibly sweet gesture to boost morale during coronavirus outbreak

Current monarch Felipe is married to Queen Letizia and the couple have two daughters, Princess Leonor, 14, and Infanta Sofia, 12. In response to the COVID-19 pandemic, King Felipe and Queen Letizia were both tested for the virus last week, after coming into contact with one minister, Irene Montero, who had contracted coronavirus. It was confirmed that the royal couple had been given the all-clear.

Make sure you never miss a ROYAL story! Sign up to our newsletter to get all of our celebrity, royal and lifestyle news delivered directly to your inbox.