• Valladolid playing in La Liga for first time since 2014 • Ronaldo buys 51% stake but will not be club president

This article is more than 2 years old

This article is more than 2 years old

The former Brazil striker Ronaldo has become the majority stakeholder in Real Valladolid after buying 51% of the Spanish top-flight club from the president, Carlos Suárez.

The former Barcelona and Real Madrid forward paid around €30m (£27m), according to Spanish media reports. Valladolid were promoted this season and Ronaldo said the aim was to keep the team in La Liga.

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“We want Real Valladolid to consolidate in the top flight and keep building hopes from there,” he said. “It will not stop there because we want to grow to where our hopes allow us to.”

Suárez will continue as club president. “The arrival of Ronaldo puts Valladolid on the map and will allow the club to take a leap forward in quality,” Suárez said. “I welcome him to his home.”

Valladolid are back in the top division for the first time since 2013-14.