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Brazil and Real Madrid legend Ronaldo will become the primary owner of Real Valladolid.

Ronaldo, who will purchase a 51 percent stake in the club for €30 million, joined current majority owner and president Carlos Suarez and city mayor Oscar Puente at a ceremony at the city hall on Monday.

"I have gone through many experiences in my career that have prepared me for this," Ronaldo said. "Football is always a passion."

Suarez, who owns 66 percent of the shares in the club, believes selling a stake to Ronaldo will only help it succeed.

"Ronaldo's arrival puts Real Valladolid on the map and will allow the club to have a bit of quality," Suarez said. "I welcome him to his home."

Puente had said earlier that he would welcome the arrival of Ronaldo to Real Valladolid as the club owner.

"He is a sports world icon and the operation seems interesting," Puente told AS. "Along with Michael Jordan, he is the only person who has a lifetime contract with Nike. It would bring a lot of value to Valladolid."

???????? @ronaldo ya presume de la blanquivioleta #RealValladolid pic.twitter.com/CVT5ePqQD4

— Real Valladolid C.F. (@realvalladolid) September 3, 2018

Diario de Valladolid report that the deal has been in place since May and would only go ahead if the club gained promotion to La Liga, which they achieved in June.

The club has a reported debt of €25m. According to reports, Ronaldo, 42, would become Valladolid president, with Suarez taking over a delegate role.

Suarez reportedly had better offers from investors in China and Latin America to buy the club but found the bid from Ronaldo most interesting.

Puente said he has "full confidence" in the decisions that Suarez is carrying out at the club.

"He is searching for financial and sporting stability as well as looking out for the interests of our city," he said last week. "With his defects and virtues, his 17 years in charge of the club endorse him and I'm calm knowing that he is taking the decision regarding the club."

Valladolid were recently in hot water after La Liga opened a disciplinary case regarding the state of their pitch at Estadio Jose Zorilla in their 1-0 defeat to Barcelona on Aug. 25.

Though they laid a new pitch for their first home league game since gaining promotion, Suarez said after the game the condition of the turf was not up to La Liga standards and would accept a fine if given.

Valladolid have drawn two of their three opening games but are still seeking their first win heading into their home game against Alaves on Sept. 16.

Source: espn.co.uk

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