Former Brazil striker Ronaldo, who is now president of LaLiga club Real Valladolid, has waived his remuneration after the club closed the financial year with a loss of more than five million euros.
Valladolid published a statement on Monday after their general shareholders' meeting and reported a negative balance due to the impact of the COVID-19 pandemic and the club's relegation to the second division.
"The president of the entity has waived the right to receive any remuneration for the year ending," the club said.
Ronaldo, a twice Ballon D'Or winner who also owns Brazilian club Cruzeiro, bought a 51% stake in Valladolid in 2018 for 30 million euros ($31.15 million) and increased his ownership by a further 21% a year later.
