Former Brazilian international striker Ronaldo has become majority owner of newly-promoted La Liga side Real Valladolid.
The Real Madrid and Inter Milan legend has bought 51 per cent of the Spanish club’s shares for a reported £27.4m, the club announced at a press conference on Monday.
Despite now being the majority shareholder, the two-time Ballon d’Or winner will take on the role of president of the board of directors with current president Carlos Suárez set to remain in his position. The operation means Ronaldo is the first former football player to become the owner of a European top flight club.
“We want to build the best possible team to compete in the league,” said Ronaldo speaking at the conference in the Valladolid town hall.
“You can count on us to make sure that Real Valladolid will cement its place in the Liga and will carry on building dreams. With the unity that we have here, I am sure that it will be very hard to beat us.”
President Carlos Suárez welcomed Ronaldo to the club, saying his arrival “puts Real Valladolid on the map and will allow the club to take a leap in quality”.
Goalless Real Valladolid, who sit 16th in La Liga, welcome Alaves after the international break to chase their first league win of the season.