Ronaldo to Sell Majority Stake in Cruzeiro: New Delhi

Brazilian football legend Ronaldo has made headlines once again, this time for reaching an agreement to sell his majority stake in his former club, Cruzeiro. The 47-year-old, who acquired a 90% stake in the club for $70 million in 2021, has agreed to sell the shares to BPW Sports company, as announced by the Brazilian Serie A team on Monday.

During his tenure at the club, Ronaldo successfully cleared the club’s massive $195 million debt and played a crucial role in their return to the top flight in 2022 after spending three seasons in Serie B. Despite these achievements, recent poor performances led to criticism and calls for his departure from some fans.

In a statement released by the club, it was mentioned that Ronaldo and BPW Sports have signed an agreement to acquire all the shares of Tara Sports Brasil, the company that owns 90% of Cruzeiro SAF. The statement also praised Ronaldo’s administration for bringing a new perspective to the club, implementing professional management, and establishing a governance structure aligned with international best practices.

Ronaldo, who won the World Cup with Brazil in 1994 and 2002, will remain a member of Cruzeiro’s board of directors, pending approval of the deal by Brazil’s Administrative Council for Economic Defense. The former striker expressed mixed feelings about the decision, stating that while challenges were faced during his tenure, he is satisfied with handing over the club in a better situation than when he took over.

In addition to selling his stake in Cruzeiro, Ronaldo is also expected to sell his 51% stake in Spanish second-tier side Real Valladolid, as he looks towards new ventures in the world of football. Fans will be eagerly watching to see what the future holds for the legendary striker turned club owner.