Real Valladolid have confirmed that former Brazil international striker Ronaldo Nazario is the new club president.
The former Barcelona and Real Madrid striker has bought 51% of the club’s shares in a €30m deal replacing Carlos Suarez – who will remain on the club’s board – in the role.
The news originally broke on Cadena Ser’s El Larguero programme last week, following reports earlier this year that such a move was possible.
Former Valladolid president Jose Moro was Ronaldo’s former partner in a wine business, while Diario AS cite Ronaldo as saying in January: “I would like to buy a team in the second division of Spain or England. I want to do something innovative.”
Since those comments, Valladolid have been promoted the top flight after a five-year absence – drawing their opening game at Girona before a narrow loss to Barca.
The Brazilian had previously owned a stake in American side Fort Lauderdale Strikers before their dissolution in 2016.