Ronaldo, a celebrated former football star, sold his 90% stake in Cruzeiro’s SAF to Pedro Lourenço for R$600 million ($115.38 million).
Cruzeiro SAF is the business arm of Cruzeiro Esporte Clube, a major Brazilian football club with a storied history in national and international play.
He bought it for R$50 million ($9.62 million) in late 2021, motivated by fan pressure and financial benefits.
The deal includes an initial R$150 million ($28.85 million) payment, with the remaining R$350 million ($67.31 million) paid over ten years.
During his 28-month leadership, Ronaldo faced significant challenges managing the club’s debts and constant performance demands.
He committed to a R$350 million ($67.31 million) investment over five years, aiming to boost the club’s financial health.
However, the club’s 2022 revenue of R$150.35 million ($28.91 million) fell short of its R$220 million ($42.31 million) annual average from previous years.
Lourenço, now the major shareholder, must meet these financial obligations under the existing shareholder’s agreement.
The sale’s finalization awaits approval from regulatory bodies and the Cruzeiro Association, which owns the remaining 10% of the SAF.
Ronaldo’s entrepreneurial ventures began in 1998 with the opening of a nightclub and a physiotherapy center.
Today, he oversees Tara Sports and several other businesses within the Oddz Network.
His businesses cover sports management, technology, and content production. He plans to sell his Valladolid shares, expanding his investments.
Despite some business setbacks, Ronaldo’s ventures mostly have thrived, demonstrating his sharp financial instincts.
His diverse interests across various sectors illustrate his capacity to succeed well beyond his athletic career.
This adaptability highlights not just an athlete’s transition into business, but the potential to excel across multiple arenas.