Ronaldo's 140 million euro Monaco transfer

The rumour mills have been spinning recently with the news that Real Madrid footballer Cristiano Ronaldo is buying a hotel in the beautiful principality of Monaco.

Although not his first foray into the world of hospitality, this is by far the boldest and most dramatic play he has made to date. The reported amount of the purchase is said to be an impressive 140 million euros, although the name of the hotel in question has not yet been disclosed.

In December 2015 Ronaldo announced that he had invested €37 million as part of a joint partnership with the largest International Portuguese hotel group Pestana, to launch four new boutique hotels. Cristiano Ronaldo’s CR7 brand is the main inspiration behind the venture. The hotels will be located in four iconic destinations: Lisbon (in the historic down town area), Madrid (Gran Vía), Funchal on the island of Madeira and New York (near Times Square). These hotels will be boutique in style and will appeal to the modern day 'millennial traveller'.

According to British company, The Proto Group, the deal to purchase the Monaco property was completed last week. We hope to hear more soon about which hotel he has purchased and what his plans are for this new Monaco business venture.