Real Oviedo have been bought by Mexican telecommunications magnate Carlos Slim, the world’s richest man.
Slim has bought a majority stake in the former La Liga side who are currently struggling in Segunda B.
The new Mexican investor has pumped nearly £1.6 million into the club, claiming a majority stake.
The Spanish side have competed in La Liga in 38 seasons of their existence, but currently find themselves trying to claw their way out of the third tier of domestic football.
Supporters of Oviedo recently saved the club from the brink of bankruptcy when they raised £1.2million in two weeks, but the club continued to struggle.
Their rich stakeholder Slim is said to be worth £43 billion, much of which he amassed through his telecommunications companies, so the future is now looking bright for the club..
An Oviedo statement said that Slim’s investment came about because the club had significant “history in Spanish professional football and above all for the extraordinary support of its fans.
“This challenge and ambition is strictly a sports investment and one that looks to benefit the club and its fans,” the statement continued.
“The investment will try to support Oviedo’s players so they can reach their goals and the club can reach the division that corresponds to its history and values.”
Depending how much of his fortune Slim decides to invest in the club, it may not be too long before they shoot up through the Spanish domestic leagues and return to La Liga to compete with the likes of Barcelona and Real Madrid once more.