Retired Real Madrid and Brazil striker Ronaldo has bought a controlling stake in his former club Cruzeiro, the player and the club said on Saturday.
Ronaldo, who played for Cruzeiro as a teenager in the early 1990s before going on to become one of the most successful centre forwards in footballing history, did the deal with the help of Brazilian investment bank XP (XP.O).
The transaction, which was done through Ronaldo’s Tara Sports company and is still subject to what the bank called “a series of conditions,” sees the 45-year-old invest 400 million reais ($70 million) in the Belo Horizonte club, which has spent two years in Brazil’s second division.
“I am so happy to have concluded this operation,” Ronaldo said in a video posted by the Cruzeiro president, adding, while holding one of the club’s blue shirts, that he wants to “give back to Cruzeiro and take them where they deserve to be.”
“We have a lot of hard to work to do. There’s nothing to celebrate yet but we bring a lot of hard work and the ambition to make Cruzeiro great again.”
It is the second foray into management for the former PSV Eindhoven, Inter Milan, AC Milan, Barcelona and Corinthians striker. Ronaldo bought a 51% stake in Spanish club Real Valladolid in 2018.
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