|King Juan Carlos of Spain to abdicate|
Juan Carlos has been the King of Spain since 1975, ascending after the death of the dictator General Francisco Franco.
Crown Prince Felipe, 45, will take over the throne as Felipe VI.
King Juan Carlos has been popular for much of his reign. He is in fact one of the most recognizable heads of state, although he has become unpopular lately, thanks to the corruption charges on his daughter and her husband.