Brazil and Real Madrid legend, Ronaldo, is set to become the primary owner of Real Valladolid after purchasing a 51 percent stake in the La Liga club for €30 million.
Ronaldo was introduced at a ceremony at Valladolid’s city hall on Monday alongside current majority owner and president Carlos Suarez and city mayor Oscar Puente.
Suarez, who owns 66 percent of the shares in the club, believes selling a stake to Ronaldo will only help it succeed. “Ronaldo’s arrival puts Real Valladolid on the map and will allow the club to have a bit of quality,” he said.
Diario de Valladolid reports that the deal has been in place since May and would only go ahead if the club gained promotion to La Liga, which they achieved in June.
Ronaldo said his variety of experiences in football have prepared him for an opportunity to own a club. “We want to build the best team possible to compete and will be transparent in our management. Trust us to consolidate Real Valladolid in La Liga and for us to be able to grow the enthusiasm that there is. Together, I’m convinced that it will be very difficult to beat us. I want everyone to help build this club and I invite the fans to take part in this project. Give us ideas, opinions, criticisms and hopes. I want you to be a part of the present and future of Real Valladolid,” he said.
The club has a reported debt of €25m. According to reports, Ronaldo, 42, would become Valladolid president, with Suarez taking over a delegate role.