January 8, 2023
Football superstar and Portuguese icon, Cristiano Ronaldo, plans to add a £43 million, 88-unit apartment project in his native Madeira to his growing commercial portfolio.
There have been rumours of a deteriorating relationship between the former Manchester United forward and his agent Jorge Mendes, but that hasn't stopped Ronaldo from expanding his collaboration with hotel giant Pestana into a luxurious residential project. Construction of the apartments is scheduled to begin soon on land owned by the 37-year-old icon in Praia Formosa, next to the seven-story building home to his mother and older brother.
Cristiano Ronaldo - Pestana CR7:
A joint venture between the chairman and founder Manuel Pestana and Cristiano Ronaldo, the project will be known as Pestana Residences CR7, and development work is scheduled to begin around May. Sources indicate that other residences in Madeira and mainland Portugal will be built depending on the success of the Praia Formosa project. In addition, Pestana has not "ruled out" the possibility of taking the initiative internationally. In a partnership that dates back six years, Ronaldo and Pestana each own a 50 per cent stake in a chain of hotels called Pestana CR7 Lifestyle Hotels that promotes itself as the "perfect match" between Pestana's "hotelier expertise" and Cristiano Ronaldo's glitz and glamour. The partnership has resulted in the development of a number of successful hotels in New York, Lisbon, and Morocco, among other locations.
Ronaldo's outstanding on-field success is mirrored by his equally impressive off-field achievements in a variety of commercial undertakings. Before getting into the hotel and restaurant business, the five-time Ballon d'Or winner effectively launched a line of lifestyle products under the CR7 brand and opened a string of hair clinics across Europe, including in the Spanish city of Valencia and the Portuguese city of Porto. Additionally, the ace footballer has diversified his business portfolio to include gyms and fitness centres.
Ronaldo's business ventures have been profitable as ever, but after his sensational interview with Piers Morgan in November 2022, his future as a football player was cast into doubt. During the course of the conversation, which lasted for an hour, the forward revealed that he did not respect his Dutch manager Erik ten Hag and that he felt the Old Trafford club had misled him. Ronaldo informed his followers after his departure from Manchester United that it was "time to seek a new challenge."
The football great eventually signed a multimillion-dollar contract with the Saudi Arabian team Al Nassr, with an annual salary of almost $200 million, ending months of speculation.
A Riyadh-based club with a long history of success, Al Nassr FC was established in 1955 and has won several championships, including the Saudi Premier League, Crown Prince's Cups, King's Cups, Federation Cups, and Saudi Super Cups. In international competition, they won two GCC Champions Leagues and the Asian Cup Winners' Cup, and the Asian Super Cup in the same year (1998), making history in the process. With over 20 titles, multiple international records, and Ronaldo's recent signing, online betting in Australia has pegged the team as a top candidate to win the Saudi League.
Ronaldo's strategic career decisions and bold business ventures have helped to elevate his name to recognizable brand status. In addition to his massive CR7 brand, Ronaldo has proven himself to be a powerful influencer and a successful entrepreneur with strong leadership skills. The superstar, who has amassed a gigantic Instagram following of 529 million, is capitalizing on his fame by issuing a slew of NFTs through a partnership with cryptocurrency exchange Binance. The introduction of the new real estate project, together with a slew of successful enterprises and multiple endorsement deals, continues to demonstrate Ronaldo's rise to superstardom.
Cristiano Ronaldo next game for Al-Nassr in the Saudi Professional League is on January 14, Al Tai. You can watch Al Shabab vs Al Nassr, AC Milan vs AS Roma, Atletico Madrid vs Barcelona, Manchester United vs Charlton, Manchester City vs Chelsea, and Oxford United vs Arsenal, all matches provided from our live football game pages.
Al-Nassr next game:
Al-Shabab vs Al Nassr kick-off time (14-01-2023):
Beijing (China) | UTC/GMT+8: 01:30
India (New Delhi) | UTC/GMT+5.30: 23:00
Saudi Arabia (Riyadh) | UTC/GMT+3: 20:30
Italy (Turin) | UTC/GMT+1: 18:30
Spain (Madrid) | UTC/GMT+1: 18:30
Portugal and England (Lisbon/London) | UTC/GMT+0: 17:30
Rio de Janeiro (Brazil) | UTC/GMT-3: 14:30
New York (United States) | UTC/GMT-5: 12:30
Los Angeles (United States) | UTC/GMT-8: 09:30