Former Brazilian striker Ronaldo has boughtLa Liga clubReal Valladolidfollowing the completion of his takeover for €30m (£27m).

The Brazil and Real Madrid legend now owns 51 percent of the club and has been unveiled in the town’s city hall alongside current majority owner and president Carlos Suarez and city mayor Oscar Puenteon Monday.It is understood that Valladolid have €25m of debt and Ronaldo’s plans have seemingly beaten out bigger offers from China and Latin America.

Valladolid earned promotion to the top tier last season and sit 16th, after two draws and a defeat from their opening three games.La Liga also opened an investigation last month into the poor condition of the club’s pitch at their Jose Zorrilla stadium, following a 1-0 loss to Barcelona.

Ronaldo will bring a sprinkling of stardust, with the former forward widely regarded as one of the game’s greatest ever players.He retired in 2011, having been named Fifa World Player of the Year in 1996, 1997 and 2002.

The 41-year-old has appealed to the Valladolid fans to help shape the club’s future.“I want everyone to be a part of this club and I invite the fans to participate in this project,” he said.“To give us ideas, opinions, criticisms and aspirations. I want you to be part of the present and future of Real Valladolid.”