Brazilian icon Ronaldo is set to become the president of La Liga club Valladolid after paying €30million to become their leading shareholder.

The Real Madrid legend is set to become the club's president after investing €30m (£27.2m) in shares in the club, according to Spanish radio programme El Larguero.

The current president, Carlos Suarez, will reportedly continue at the club as the managing director.

Brazil legend Ronaldo is set to become the president of La Liga club Valladolid

The deal will bring an end to months of negotiations between Valladolid and Ronaldo and will mean the former striker will have seen off Mexican businessman Ernesto Tinajero in taking control of the club.

Club president Suarez reportedly broke a pre-contract agreement with Tinajero to stop the Mexican taking the reins.

Valladolid were promoted to La Liga this season and and have started by drawing with Girona and losing by one goal to Barcelona.

Real Valladolid were beaten 1-0 at home by Barcelona having previously drew 0-0 with Girona

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Ronaldo has previously stated his desire to run a club in Spain or England before becoming involved in the Brazilian Football Federation, saying: 'It would be a great honour to be the president of the Brazilian Football Federation but before that I want to experience running a great club.'

Ronaldo is currently an ambassador for Real Madrid and was previously a partner with American side Fort Lauderdale Strikers, who play in the North American Soccer League, buying a 20 per cent stake in the club in 2014.

The World Cup winner sold his stake in the club in 2017.