Two-time World Cup winner Ronaldo is selling his shares in Brazilian club Cruzeiro and Spanish team Real Valladolid, he said in a news conference on Monday evening.
Ronaldo, who started his career at Cruzeiro, has been criticized by fans of both clubs for of failing to invest as much as he promised. He bought Cruzeiro in 2021 and owns a majority stake in Valladolid since 2018.
"I know most fans are grateful to me and my team for putting Cruzeiro back in the national and international scene. My goal was reached, that was always the idea. To bring Cruzeiro back and, at the right time, give it to the right person," he said.
Ronaldo bought the Cruzeiro football department for $78 million and is reportedly selling it for almost $117 million.
Cruzeiro stockpiled trophies over the past two decades but was in Brazil's second division from 2020 to 2022 amid fears it could disappear due to its gigantic debt, which amounted to more than 1 billion Brazilian reals ($200 million).
"Cruzeiro was in intensive care when I came. I halved the debts, the revenue increased five times. I am leaving Cruzeiro in a comfortable hospital bedroom now," Ronaldo said.
The new owner is Pedro Figueiredo, a billionaire who built one of Brazil's biggest supermarket chains.
Ronaldo's plans for Valladolid are unclear. Under his reign, the club was relegated twice and promoted once. They are currently second in the second division and have a good chance of returning to La Liga.
