Two-time World Cup champion Ronaldo Nazário has agreed to sell his stake in the troubled Brazilian soccer club Cruzeiro, with plans to do the same with Spain’s second division club Real Valladolid, which he has owned since 2018.
Ronaldo purchased Cruzeiro’s soccer department in 2021 for approximately $78 million and is now reportedly selling it for nearly $117 million.
The Brazilian legend began his career at Cruzeiro, but as an owner, he faced criticism from fans who felt he did not invest as promised. Similar criticisms were directed at him during his tenure at Real Valladolid.
“Perhaps some have exaggerated in their criticism of me, but that’s irrelevant,” Ronaldo Nazário said during a press conference following the sale.
“I know that most fans appreciate the work my team and I have done to bring Cruzeiro back into the national and international spotlight. My goal was achieved; the idea was always to revitalize Cruzeiro and eventually pass it on to the right person.”
Ronaldo did not elaborate on his plans for Valladolid, where he purchased a 51% stake six years ago.
“I’ll keep it brief; Valladolid is next,” Ronaldo Nazário said. “I’ll take some time off after selling both Cruzeiro and Valladolid.”
Fans of the Spanish club have criticized Ronaldo Nazário’s management for transferring players at high prices but not reinvesting adequately, contributing to Valladolid’s relegation twice under his ownership.
The new owner of Cruzeiro’s soccer department is Pedro Figueiredo, a billionaire and dedicated fan who built one of Brazil’s largest supermarket chains. He mentioned in a news conference that it would take him ten years to clear the club’s debts.
