Brazil and Real Madrid legend, Ronaldo will 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.
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He 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" Ronaldo said.
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," Suarez said.
"I welcome him to his home." Puente had told AS earlier that he would welcome the arrival of Ronaldo to Real Valladolid as the club owner. He is a sports world icon and the operation seems interesting," Puente said. Along with Michael Jordan, he is the only person who has a lifetime contract with Nike. It would bring a lot of value to Valladolid. Diario de Valladolid report 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.
The club has a reported debt of €25m. According to reports, Ronaldo, 42, would become Valladolid president, with Suarez taking over a delegate role.
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