Brazil great Ronaldo sells stake in Valladolid

MADRID (AP) — Brazil great Ronaldo is selling his controlling stake in Valladolid, the Spanish soccer club said on Friday.

Valladolid, which will play in the second division next season, said in a statement that Ronaldo informed it of a deal to sell to a “North American investment group with backing from a European fund.”

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The club said it would offer more details in the coming days.

Ronaldo acquired 51% of Valladolid in 2018.

Valladolid’s fans protested this season and demanded for Ronaldo to sell his part of the club due to its very poor performances in La Liga. It spent most of the season at the bottom of the table and was the first team to be relegated.

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AP soccer: https://apnews.com/hub/soccer