Ronaldo has bought La Liga club Real Valladolid following the completion of his takeover for €30m (£27m).
The Brazil and Real Madrid legend now owns 51 percent of the club and has been unveiled in the town’s city hall alongside current majority owner and president Carlos Suarez and city mayor Oscar Puente.
Valladolid have €25m of debt and Ronaldo’s plans have seemingly beaten out bigger offers from China and Latin America.
"We want to build the best team possible to compete and will be transparent in our management," Ronaldo said. "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."
Suarez is excited by the potential Ronaldo’s involvement will bring to the club.
"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."
While Puente likened Ronaldo’s status to Michael Jordan as one of the globe’s premier sporting figures.
"He is a sports world icon and the operation seems interesting," Puente told AS . "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."
Will Real Valladolid remain in La Liga under Ronaldo’s ownership for the next five years?
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