The financially stricken Spanish club Real Oviedo announced Saturday that the Mexican tycoon Carlos Slim Helú had agreed to invest $2.5 million in the third-tier team, which faced bankruptcy before a huge fund-raising effort by fans.

Oviedo narrowly staved off extinction after supporters over the past two weeks bought more than $1.9 million in new shares in the club.

The club said in a statement that Slim decided to become the new majority shareholder because of Oviedo’s “history in Spanish professional football and above all for the extraordinary support of its fans.”

According to Forbes magazine, Slim, with a net worth of $69 billion, is the world’s richest person. He made his fortune in the telecommunications industry.