Belo Horizonte: Brazilian football legend Ronaldo (Ronaldo Luís Nazário de Lima) has reached an agreement to sell his majority stake in Cruzeiro, the club where he kickstarted his illustrious career, announced the Brazilian Serie A team on Monday.
At the age of 47, Ronaldo has decided to part ways with the club, agreeing with BPW Sports company to sell the 90% stake he acquired in 2021 for $70 million through his company Tara Sports Brasil. However, specific financial details regarding the sale to BPW Sports were not disclosed.
Despite Ronaldo’s efforts to alleviate the club’s financial woes, clearing a staggering $195 million debt, and leading Cruzeiro’s triumphant return to the domestic top flight in 2022 after a three-season stint in Serie B, recent underwhelming performances sparked criticism and fan dissent, prompting calls for his departure.
In a statement, the club expressed gratitude for Ronaldo’s contributions, highlighting his role in revamping the club’s management structure, attracting key partners and sponsors, and restoring Cruzeiro’s credibility within the footballing community.
Ronaldo, a two-time FIFA World Cup winner with Brazil in 1994 and 2002, is set to maintain involvement with Cruzeiro as a member of the board of directors, subject to approval by Brazil’s Administrative Council for Economic Defense.
Reflecting on his tenure, Ronaldo expressed a mix of emotions, emphasizing a sense of fulfillment despite the challenges faced. He reminisced about his initial venture into purchasing Cruzeiro and underscored the progress made despite hurdles along the way.
Looking ahead, Ronaldo hinted at divesting his 51% stake in Spanish second-tier club Real Valladolid, indicating a shift in focus towards new ventures.
Ronaldo’s departure marks the end of an era for Cruzeiro, with fans reflecting on his remarkable journey from teenage prodigy to global football icon.
