Legendary footballer "Big Whistle" Ronaldo has recently announced that he has sold 90% of his shares in Barclays Premier League rivals Coats Road to a local entrepreneur. The deal is said to have netted "Big Whistle" US$30 million (HK$234 million) over the past two years.
After retiring from the game, "Big Whistle" turned to the business world and became the owner of the La Liga team Huaradu, which he officially took over in late 2021 when he bought 90% of the shares of Coats Road for $80 million.
However, after two years of running the team, "Big Whistle" chose to sell its shares. According to insiders, the move stems from the team's poor performance, fan dissatisfaction, and disappointment on both sides. Recently, a buyer was willing to offer $120 million for 90% of the shares, and Big Whistle finally decided to give it a go.
In the deal, "Big Whistle" bought the team for $80 million and invested $10 million during the period. The team was upgraded from Barclays B to Barclays A and sold two years later for $120 million, netting a profit of $30 million.
According to "Big Whistle" on social media, the new owner, Berrien Slaves, is the fifth largest retailer in Brazil, which means that Coats Road will have a new challenge. The team is currently in seventh place with two wins and one loss in their first four matches of the season, a solid start to the season. Although "Big Whistle" has retired from the frontline, he is still a board member and maintains close ties with the team.
