{"id":294357,"date":"2023-11-18T15:24:46","date_gmt":"2023-11-18T15:24:46","guid":{"rendered":"https:\/\/sportsloveme.com\/?p=294357"},"modified":"2023-11-18T15:24:46","modified_gmt":"2023-11-18T15:24:46","slug":"inside-cristiano-ronaldos-vast-business-empire","status":"publish","type":"post","link":"https:\/\/sportsloveme.com\/soccer\/inside-cristiano-ronaldos-vast-business-empire\/","title":{"rendered":"Inside Cristiano Ronaldo&apos;s vast business empire"},"content":{"rendered":"<h1>Inside Cristiano Ronaldo&#8217;s vast business empire: How star boasts a growing hotel chain and even a media company &#8211; but his hair transplant clinics are facing a tax probe in Spain<\/h1>\n<ul>\n<li><strong>Ronaldo has amassed a sizeable fortune during a legendary football career<\/strong><\/li>\n<li><strong>The Portugal and Al-Nassr star has steadily grown a vast business empire\u00a0<\/strong><\/li>\n<li><strong>It\u2019s a three-team title race&#8230; Toney could lead Arsenal to glory: It&#8217;s All Kicking Off<\/strong><\/li>\n<\/ul>\n<p>Cristiano Ronaldo\u00a0has raked in a fortune during a legendary playing career which has included spells at Manchester United, Real Madrid and Juventus, before his current spell in Saudi Arabia with Al-Nassr.<\/p>\n<p>Ronaldo&#8217;s decision to move to the Saudi Pro League club at the start of the 2023 reportedly nets him a staggering \u00a3173m-per-year, bolstering his earnings further.<\/p>\n<p>The 38-year-old has been known for\u00a0diversifying his income with several business investments, which has become an expansive\u00a0portfolio.\u00a0<\/p>\n<p>Ronaldo&#8217;s business interests appears to only be growing as he enters the twilight of his playing career, which will ensure the Portugal legend has plenty to keep his hands full when he eventually decides to hang up his boots.<\/p>\n<p>His latest investment came last month when Ronaldo was listed among a group of investors who took over the Portuguese media company\u00a0Cofina.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/15\/77837239-12751897-image-a-38_1700063989624.jpg\" height=\"485\" width=\"634\"><\/p>\n<p>Cristiano Ronaldo has amassed a sizeable fortune during a legendary football career<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/15\/77836423-12751897-image-a-33_1700062726332.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>Ronaldo has also entered the business world with the 38-year-old boasting a sizeable empire<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/15\/77837039-12751897-image-a-35_1700063671558.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>The Portugal and Al-Nassr star has invested across media, tourism and in the health industries\u00a0<\/p>\n<p>Your browser does not support iframes.<\/p>\n<p>Ronaldo was one of 11 investors named in the deal, which saw Cofina sold to\u00a0Expressao Livre II, with the deal reportedly worth an estimated\u00a0\u20ac56.8m (\u00a349.4m).<\/p>\n<p>The Portuguese media giants include Correio da Manha, the most circulated newspaper in the country, who sell around 110,000 copies sold per day.<\/p>\n<p>The sports daily Record, the free newspaper Destak and business paper Jornal de Negocios are also published by Cofina, while the company owns the television channel\u00a0cmTV and a series of magazines.<\/p>\n<p>Ronaldo&#8217;s latest enterprise was welcomed by\u00a0Luis Santana,\u00a0Cofina Media chief executive, who was listed among the investors in a management buyout.\u00a0\u00a0<\/p>\n<p>&#8216;To count on Cristiano Ronaldo, the best footballer ever, an exceptional athlete who shares the values of demand, rigor, hard work and resilience, as an investor is naturally a great source of satisfaction for the team,&#8217; Santana said earlier this year.<\/p>\n<p>Reports in Portugal have claimed Ronaldo will hold between 20-30 per cent of the company&#8217;s shares.\u00a0<\/p>\n<p>Eyebrows may have been raised over Ronaldo&#8217;s involvement given his previous clashes with Cofina-owned media, with Spanish newspaper AS reporting he had previously sued the company on 11 different occasions.\u00a0<\/p>\n<p>One such occasion saw him take Cofina to court over alleged privacy violations following a story about the birth of his eldest son.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/13\/77831567-12751897-image-a-32_1700055619348.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>Ronaldo entered the media landscape in Portugal as an investor in the takeover of Cofina<\/p>\n<p>https:\/\/youtube.com\/watch?v=RXW3CWLSYeA%3Frel%3D0<\/p>\n<p>Ronaldo also refused to answer a question during a press conference in 2014, after being angered by\u00a0Correio da Manha suggesting he was a bad influence in Portugal&#8217;s national team.<\/p>\n<p>&#8216;I have no respect for that newspaper because it is constantly inventing news, inventing controversies, inventing a bad relationship, a bad atmosphere in the national team,&#8217; Ronaldo had said.<\/p>\n<p>&#8216;It has been going on since I started in the national team, constantly attacking the national team.&#8217;<\/p>\n<p>Another famous incident saw Ronaldo throw a CMTV reporter&#8217;s microphone into a lake during Euro 2016 after reacting badly to a question.\u00a0<\/p>\n<p>If the five-time Ballon d&#8217;Or winner&#8217;s investment did not signal he had put those clashes in the past, his decision to send all company employees an additional \u20ac1,250 would have done.<\/p>\n<p>A company-wide email said the action was to show &#8216;gratitude to all those who are part of this great company and who sweat their shirts every day for it&#8217;, as reported by\u00a0Okdiario.<\/p>\n<p>It is not Ronaldo\u2019s first entry into the media landscape after he took majority ownership of the digital agency Thing Pink in 2017, with the company quickly rebranded to 7EGEND.<\/p>\n<p>The company says it focuses on delivering strategies, products, and solutions in the sports industry. Major European clubs Porto and Valencia are among 7EGEND\u2019s clients, along with the Portuguese Football Federation.<\/p>\n<p>7EGEND also looks after Ronaldo\u2019s platform CR7 Fitness Crunch, which claims to link sport, fitness and health, supporting his own chain of gyms.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/15\/77837047-12751897-image-a-37_1700063718639.jpg\" height=\"661\" width=\"634\"><\/p>\n<p>Ronaldo owns the\u00a07EGEND digital agency which works with major clients across sport<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/13\/77360525-12751897-Ronaldo_co_owns_several_of_these_clinics_but_they_failed_to_char-a-31_1700055507991.jpg\" height=\"357\" width=\"634\"><\/p>\n<p>The star co-owns several hair transplant clinics but they failed to charge VAT to several clients\u00a0<\/p>\n<p>https:\/\/www.instagram.com\/p\/CaCQc1tA4Ie\/<\/p>\n<p>A post shared by Insparya Portugal (@insparya_pt)<\/p>\n<p>Another of Ronaldo&#8217;s business ventures has faced scrutiny in recent months. The Insparya Medical Clinic hair transplant clinics he co-owns are reportedly being probed by The Tax Agency in Spain.<\/p>\n<p>Spanish reports have claimed a file has been opened against the hair transplant clinics after they issued several invoices without VAT to hundreds of clients between 2019 and 2021.<\/p>\n<p>The business claim in defence that alopecia &#8216;is a disease&#8217; and therefore &#8216;medical services of diagnosis, prevention, treatment and cure&#8217; are exempt from VAT.<\/p>\n<p>However, the Treasury in Spain have reportedly been claiming that instead transplants are &#8216;purely for aesthetic purposes&#8217; and therefore their prices must include VAT, which is currently 21 per cent in Spain.<\/p>\n<p>The Tax Agency also asked the company to justify various expenses they had deducted in relation to hotels, meals and trips, along with those invoices without VAT.\u00a0<\/p>\n<p>The clinics have handed responsibility over the process to lawyers but insist they have complied with all legislation and regulations.<\/p>\n<p>Insparya have 12 clinics in total with Barcelona and Madrid among the locations in Spain, as well as boasting locations in Portugal and Milan.<\/p>\n<p>Ronaldo also went into business with the Madeira based\u00a0Pestana Group in 2015, which is owned by\u00a0millionaire Dionisio Pestana and founded by his dad Manuel.<\/p>\n<p>The\u00a0tourism and leisure group also boasted a series of hotels across Portugal but joined forces with Ronaldo in a 50\/50 partnership to open a chain under his\u00a0CR7 brand.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867549-12751897-Ronaldo_entered_a_50_50_partnership_with_Pestana_in_2015_to_laun-a-19_1700123219243.jpg\" height=\"634\" width=\"634\"><\/p>\n<p>Ronaldo entered a 50-50 partnership with Pestana in 2015 to launch a chain of CR7 hotels<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867715-12751897-Guests_at_the_first_hotel_in_Funchal_are_granted_free_entry_to_t-a-18_1700123215271.jpg\" height=\"299\" width=\"634\"><\/p>\n<p>Guests at the first hotel in\u00a0Funchal are granted free entry to the Cristiano Ronaldo museum\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867717-12751897-The_hotel_boasts_a_pink_infinity_pool_with_the_chain_of_hotels_p-a-17_1700123210958.jpg\" height=\"299\" width=\"634\"><\/p>\n<p>The hotel boasts a pink infinity pool with the chain of hotels promising to deliver luxury<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867721-12751897-Sport_is_a_theme_of_each_of_the_five_Pestana_CR7_hotels_to_have_-a-16_1700123205442.jpg\" height=\"299\" width=\"634\"><\/p>\n<p>Sport is a theme of each of the five\u00a0Pestana CR7 hotels to have been established to date<\/p>\n<p>Five have been established to date with Lisbon and Funchal the two Portuguese locations of CR7 hotels, while the chain also includes a hotel at Times Square in New York, as well as Madrid and Marrakech.<\/p>\n<p>&#8216;The first Pestana CR7 had to be in Funchal &#8211; my city that also is considered the best island by the World Travel Awards,&#8217; Ronaldo said at the 2016 unveiling of his first hotel.<\/p>\n<p>&#8216;It is a great pride for me &#8211; the opening of this my first hotel. It marks my entrance into a completely new area. This new project is going to be a huge success in the four corners of the world.&#8217;<\/p>\n<p>Unsurprisingly the\u00a0boutique hotels have promised luxury, with the\u00a0Funchal hotel claiming its guests will enjoy the\u00a0lifestyle they deserve.\u00a0<\/p>\n<p>The hotel features a\u00a0pink-coloured infinity pool,\u00a0gym, sauna and outdoor hot tub, while guests receive free admission to the Cristiano Ronaldo museum.\u00a0Ronaldo is also claimed to have designed\u00a0training sessions at the hotel&#8217;s open air gym.\u00a0<\/p>\n<p>Unsurprisingly, sport is billed as a major theme of each of the CR7 hotels, while the rooms in the New York location are influenced by the colours and art of Portugal.<\/p>\n<p><span>MailOnline<\/span> revealed earlier this year the the sixth hotel in Paris is expected to open in 2027 following delays.<\/p>\n<p>The \u00a353million four-star hotel, on the left bank of the River Seine near the Austerlitz train station, was originally meant to open in 2021.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867553-12751897-image-a-7_1700122436345.jpg\" height=\"634\" width=\"634\"><\/p>\n<p>An exterior view of the Pestana CR7 hotel in the Portuguese city Lisbon which is already open<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/77867719-12751897-image-a-8_1700122759197.jpg\" height=\"635\" width=\"634\"><\/p>\n<p>Ronaldo promised his hotel chain would be a huge success in the four corners of the world<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/13\/70168255-12751897-Cristiano_Ronaldo_s_planned_luxury_hotel_in_Paris_has_been_beset-a-28_1700055326495.jpg\" height=\"561\" width=\"634\"><\/p>\n<p>Ronaldo&#8217;s planned luxury hotel in Paris has been beset by delays and now won&#8217;t open until 2027 &#8211; some six years behind the original schedule<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/15\/13\/70168253-12751897-The_53m_four_star_hotel_on_the_banks_of_the_River_Seine_boasts_p-a-29_1700055330773.jpg\" height=\"356\" width=\"634\"><\/p>\n<p>The \u00a353m four-star hotel on the banks of the River Seine boasts panoramic views of Paris<\/p>\n<p>Building work has only belatedly started this year on the hotel which is planned to feature 210 rooms, a rooftop bar and a pool with panoramic views over the French capital.<\/p>\n<p>&#8216;It makes perfect sense for the Pestana CR7 brand to be implanted in Paris, one of the most visited cities in the world,&#8217; Ronaldo said when announcing the hotel.<\/p>\n<p>&#8216;It&#8217;s a destination that combines the perfect match of elegance and sophistication of the brand.&#8217;<\/p>\n<p>The hotel business builds on his existing property empire, with the football legend having had a\u00a0\u00a317million home built on the Portuguese Riviera. The house sits on a large plot of land in Quinta da Marinha, Cascais, on the west coast of Portugal.<\/p>\n<p>His property empire also includes a seven-storey apartment block in Funchal, where his mother Dolores, 66, and brother Hugo live.<\/p>\n<p>He also owns a villa in Turin, a \u00a34.8m mansion on a gated fortress estate called La Finca near Madrid, and a stunning Marbella holiday home.<\/p>\n<p>In 2020 during the Covid pandemic Ronaldo also splashed out on the most expensive flat ever sold in Lisbon, paying \u00a36.5m for a state-of-the-art 3,100-square foot pad in Avenida da Liberdade.<\/p>\n<p>His wide-ranging CR7 lifestyle brand also includes\u00a0CR7 Eyewear, CR7 Footwear, CR7 Underwear and CR7 Fragrances. The brand was reportedly unaffected by the decision to close the CR7 store in\u00a0Madeira at the last of last year.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/16\/08\/67758451-12751897-As_well_as_various_sponsorship_deals_Ronaldo_has_his_own_lifesty-a-20_1700123439299.jpg\" height=\"644\" width=\"634\"><\/p>\n<p>CR7 Underwear is one of the four elements that make up his lucrative CR7 lifestyle brand<\/p>\n<p>Ronaldo also boasts a\u00a0lifetime contract with US sportswear giant Nike, one of only three athletes to have received the privilege.<\/p>\n<p>Given his legendary status, Ronaldo&#8217;s profile will remain attractive to companies long into his eventual retirement, with the star having already endorsed\u00a0<span>major brands such as Armani, Clear, Castrol, Tag Heuer, Egyptian Steel, Herbalife, Italia Independent and PokerStars.<\/span><\/p>\n<p>More recent tie-ups include LiveScore, MEO, ZujuGP, Uniecampus, and Therabody.<\/p>\n<p>With Ronaldo estimated by Forbes to have been paid $260m (\u00a3208m) this year it seems unlikely that his business investments will stop any time soon.<\/p>\n<h3>IT&#8217;S ALL KICKING OFF!\u00a0<\/h3>\n<p><span><span>It&#8217;s All Kicking Off is an exciting new podcast from Mail Sport that promises a different take on Premier League football.<\/span><\/span><\/p>\n<p><span><span>It is available on MailOnline, Mail+, YouTube, Apple Music and Spotify.<\/span><\/span><\/p>\n<p>Your browser does not support iframes.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/i\/pix\/2017\/08\/02\/636x90_facebook_ad_sport.png\" width=\"636\" height=\"90\"><br \/>\nSource: <a href=\"https:\/\/www.dailymail.co.uk\/sport\/football\/article-12751897\/cristiano-ronaldo-business-empire.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inside Cristiano Ronaldo&#8217;s vast business empire: How star boasts a growing hotel chain and even a media company &#8211; 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