Brazilian Football Legend Ronaldo Agrees to Sell Majority Stake in Cruzeiro
Brazilian football legend Ronaldo has made headlines once again, this time for his decision to sell his majority stake in Cruzeiro, the club where he made his senior debut. The former Barcelona, Inter Milan, and Real Madrid forward agreed to sell his 90% stake in the Brazilian Serie A team to BPW Sports company for an undisclosed amount, after acquiring it in 2021 for $70 million through his company Tara Sports Brasil.
Ronaldo’s leadership at Cruzeiro helped the club clear a $195 million debt and led them back to the domestic top flight in 2022 after three seasons in Serie B. Despite recent criticism due to poor results, Ronaldo’s administration at Cruzeiro was praised for implementing professional management and a governance structure in line with international best practices.
The World Cup winner with Brazil in 1994 and 2002 will continue to serve as a member of Cruzeiro’s board of directors upon approval of the deal by Brazil’s Administrative Council for Economic Defense. Ronaldo expressed a mix of emotions at a news conference, stating, “It’s impossible not to remember when I took on the great challenge of buying Cruzeiro. We’ve faced many challenges, the majority of which we’ve overcome.”
Looking ahead, Ronaldo plans to divest from Spain’s second division club Real Valladolid, where he holds a 51% stake. “Valladolid is next,” he confirmed to reporters. With his successful track record at Cruzeiro, fans and stakeholders will be watching closely to see how Ronaldo navigates this next chapter in his football ownership journey.