Real Valladolid said Friday Brazil great Ronaldo is selling his stake in the Spanish club to a North American investment company.
"The chairman of the board of directors and majority shareholder of Real Valladolid, Ronaldo Luis Nazario de Lima, announces a deal has been signed for the transfer of a majority stake in the club to a North American investment group with the financial backing of a European fund," said Valladolid in a statement.
The club, relegated from La Liga after a dismal campaign, said more details will be made available in the near future and that the deal is subject to approval from the Spanish sports council, AFP said.
Fans had protested heavily against Ronaldo in recent weeks, begging for him to "go home", with the team losing 29 of 37 league matches played this season.
In September 2018 Ronaldo, who won the World Cup with Brazil in 1994 and 2002 as a player, bought a 51 percent stake in Valladolid.
Ronaldo tried to modernize the club badge in 2022 but in 2024 reverted it back following widespread opposition.
Valladolid were relegated to the second division in 2021, but bounced straight back, before the same thing happened again in 2023, with the club returning to the top tier for their disastrous 2024-25 campaign.
