Reports: Ronaldo set to buy LaLiga's Real Valladolid
What's the story?
Former FIFA Player of the Year, Ronaldo is set to complete a deal to become the majority shareholder of LaLiga club, Real Valladolid. The Brazilian legend is currently in advanced talks regarding the takeover which is reported to be worth somewhere in the region of €30 million according to Spanish newspaper, Marca.
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Real Valladolid gained promotion from the Segunda Division last season via the playoffs, defeating both Sporting Gijon and Numancia. Their return to LaLiga after four years has started with a draw against Girona and a narrow 1-0 defeat to Barcelona.
The club currently has debts somewhere in the region of €25 million and a potential buyout from Ronaldo would immediately settle those debts, leaving the club on a level financial footing. Valladolid has been searching for a new owner for several months in order to settle their debts.
An agreement had previously been reached with Mexican businessman, Ernesto Tinajero after months of negotiations. However, despite signing a pre-contract agreement to take over Valladolid, current chief executive, Carlos Suarez backed out of the deal due to a complex dispute between shareholders, leaving the club in somewhat of a financial crisis.
The heart of the matter
Ronaldo spent some of his best years as a player in LaLiga and is one of the few professional footballers to have played for both Barcelona and Real Madrid. His affiliation with the Spanish top flight is believed to be one of the main reasons behind his decision to submit a proposal to take over as president and majority shareholder at Real Valladolid.
According to reports, the shareholders are keen to have Ronaldo on board and the deal could be completed in as little as two to three weeks. The Brazilian would take on a role as club president while Carlos Suarez would continue in his role as chief executive.
Rumour Rating: 9/10
This story comes from a reliable source and at this stage, only a hiccup in paperwork or a change of mind from the parties involved would stop the takeover from happening. The exact duties which Ronaldo would assume as president of Real Valladolid are unknown as of yet.
If all goes smoothly we could see Ronaldo officially unveiled as the new majority shareholder and president of Real Valladolid over the international break in a couple of weeks. His purchase of the club would rid all debts and allow them to make moves in the January transfer window with the hope of retaining their LaLiga status this season.