Kolkata, August 29: Brazilian football legend Ronaldo Nazario is set to buy a majority stake in La Liga side Real Valladolid for a reported figure of €30m.
Once the deal is complete, Ronaldo will assume the role of club president with Carlos Suarez, the incumbent, continuing in a new role of chief executive.
Recently Radio MARCA's T4 programme revealed that the Brazilian was in advanced talks to become the club's majority shareholder.
Valladolid were in the news for all wrong reasons recently following their 0-1 defeat to Barcelona at home, where the ground conditions were extremely bad.
Valladolid, who earned promotion La Liga only this season, after languishing in the Segunda Division for four years, are now set to face disciplinary action just after two games in the top flight of Spanish football.
This would not be Ronaldo's first foray into ownership though, as he was previously involved with the Fort Lauderdale Strikers of the NASL, a team that was dissolved in 2016.
The two-time World Cup winner retired from professional football in 2011 and has since been involved in several other business ventures, including sports marketing, where his 9ine agency represented UFC star Anderson Silva.
He also co-owned A1 Team Brazil, a team from the short-lived A1 Grand Prix racing series.