Brazilian legend Ronaldo is set to buy newly promoted La Liga outfit Real Valladolid in a £27m takeover, claim reports in Spain.

 According to Spanish media outlet, Cadena Ser, the deal would be completed in the next two to three weeks and it will see Ronaldo become club's majority shareholder.

The 41-year-old FIFA World Cup winner will equally replace incumbent president Carlos Suarez who will remain with Valladolid, but in a new role of chief executive.

The takeover will settle the club's debt of £22.7m and would bring to an end months of negotiations with Mexican businessman Ernesto Tinajero before an agreement between the two parties collapsed after Suarez broke the signed pre-contract.

Earlier in the year, another Spanish cite Dairio AS, quoted the former Barcelona and Real Madrid player as saying: "I would like to buy a team in the second division of Spain or England. I want to do something innovative."

Ronaldo had previously owned a stake in American side Fort Lauderdale Strikers before the team's dissolution in 2016.

And as for Real Valladolid, they are back in the country's topflight league this term and have a point from two matches after playing 0-0 draw with Girona and a 1-0 defeat to Barca.

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