Brazil great Ronaldo is selling his controlling stake in Real Valladolid, the Spanish club said on Friday.
Valladolid, who will play in the second division next season, said in a statement that Ronaldo informed it of a deal to sell to a "North American investment group with backing from a European fund."
The club said they would offer more details in the coming days.
Ronaldo acquired 51% of Valladolid in 2018.
Valladolid's fans protested this season and demanded for Ronaldo to sell his part of the club due to their very poor performances in LaLiga. They spent most of the season at the bottom of the table and were the first team to be relegated.