Ronaldo Agrees to Sell Majority Stake in Cruzeiro
Brazilian football legend Ronaldo has reached an agreement to sell his 90% stake in Cruzeiro, the club where he began his professional career. The deal was announced by the Brazilian Serie A team on Monday.
Background
Ronaldo, aged 47, had acquired the majority stake in Cruzeiro in 2021 for $70 million (€65 million) through his company Tara Sports Brasil. The stake is now being sold to BPW Sports company, although the financial details of the transaction have not been disclosed.
Impact on Cruzeiro
During his tenure, Ronaldo played a key role in clearing the club’s $195 million debt and guiding them back to the top flight of Brazilian football in 2022 after a stint in Serie B. His efforts were instrumental in restoring the club’s credibility, attracting new partners and sponsors, and setting record contracts for the team.
Ronaldo’s Statement
Reflecting on the sale, Ronaldo expressed a mix of emotions but highlighted his sense of fulfillment. He emphasized the challenges faced and overcome during his time with Cruzeiro, stating that he is handing over the club with a sense of duty fulfilled.
Future Plans
Following the sale of his stake in Cruzeiro, Ronaldo is expected to sell his 51% ownership in Spanish second-tier side Real Valladolid, indicating his next move in the football business.