Former tennis star Arantxa Sánchez Vicario guilty of fraud but not jailed. GETTY IMAGES

Former world number one and four-time Grand Slam winner Arantxa Sanchez Vicario has been given a two-year suspended jail sentence for concealing assets to avoid paying a bank debt, the Spanish courts announced on Wednesday.

Sanchez Vicario, 52, and her ex-husband Josep Santacana, were also ordered to pay €6.6 million to the Luxembourg bank that they used to run up the debt they were trying to avoid paying. 

Santacana, who managed Sanchez Vicario's accounts, was given a longer sentence of three years and three months in prison, the Catalan High Court said in a statement after the trial in Barcelona. 

Three other defendants were sentenced to one year and three months in prison and fined.

Arantxa Sánchez Vicario won't go to prison. GETTY IMAGES
Arantxa Sánchez Vicario won't go to prison. GETTY IMAGES

The ruling states that "(the defendant) had and always had sufficient assets to pay her debts and that she has prevented their recovery by acts of sale and evasion of seizure".

Sanchez Vicario won three French Open titles, the 1994 US Open and was world number one for 12 weeks in 1995. She was also a two-time finalist at the Australian Open and Wimbledon.