Brazil’s Ronaldo waives Valladolid salary after club makes loss
Valladolid reported a negative balance due to the impact of the COVID-19 pandemic and the club’s relegation to the second division.
Published : Nov 28, 2022 23:27 IST
RIO DE JANEIRO, BRAZIL - JUNE 30: Brazilian former football player Ronaldo Nazario attends a ceremony organized by Brazilian Football Confederation to honor 2002 FIFA World Champions on the 20th anniversary at Fairmont Hotel on June 30, 2022 in Rio de Janeiro, Brazil. (Photo by Buda Mendes/Getty Images) | Photo Credit: Buda Mendes
Former Brazil striker Ronaldo, who is now president of LaLiga club Real Valladolid, has waived his remuneration after the club closed the financial year with a loss of more than five million euros.
Valladolid published a statement on Monday after their general shareholders’ meeting and reported a negative balance due to the impact of the COVID-19 pandemic and the club’s relegation to the second division.
“The president of the entity has waived the right to receive any remuneration for the year ending,” the club said.
The 46-year old Ronaldo, a twice Ballon D’Or winner who also owns Brazilian club Cruzeiro, bought a 51% stake in Valladolid in 2018 for 30 million euros ($31.15 million) and increased his ownership by a further 21% a year later. ($1 = 0.9632 euros)