Ronaldo Nazario has been confirmed as the new president of Real Valladolid after purchasing 51% of the club.
Former Barcelona and Real Madrid striker Ronaldo has now completed his take-over of the Castile and León side following a €30 million agreement with the club’s hierarchy, resulting in Ronaldo becoming the first ex-player to buy a top-flight club in a major European league.
Marca claim that the club’s President, Carlos Suarez, will continue working for the club but in a new role as Chief Executive with Ronaldo becoming the new President.
News of a potential takeover began to circulate in May following the breakdown of an agreement with Mexican businessman Ernesto Tinajero. It is believed that a complex shareholder dispute between Suarez and businessmen Jose Moro and Jose Luis Losada, vice-presidents last season, complicated the entire operation.
Ronaldo’s arrival could now lead to a change in financial backing at the club, with a number of players already linked to join him at the club in the January transfer window.
Valladolid sit on one point after three games this season and they have failed to score a single goal thus far, in the mean-time – conceding just one in the mean-time – to Barcelona last weekend.