Cristiano Ronaldo invests in £770m luxury watch dealership with Al-Nassr star already boasting his own £1.6m timepiece

CRISTIANO RONALDO has invested some of his Saudi millions in a luxury watch dealership.

The Portuguese star has become a shareholder of Chrono24 after buying an undisclosed stake in the company.

Ronaldo, 38, shared his excitement as he was announced as a shareholder on the company's website.

He said: "As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company now.

"Chrono24 unites millions of watch lovers from all around the world to share in their passion, together – that global unification is something I know well and am thrilled to be a part of."

The company, which is said to be worth around £770m, was founded in 2003 and claims that over nine million people visit the website monthly.

Ronaldo makes no secret of his love of watches and has a collection of them reportedly worth £5million.

He was gifted a £92,000 timepiece by Jacob and Co back in May.

It was not the first time Ronaldo has been gifted a watch as he was given an 18K white gold, £630k timepiece when he first joined Al-Nassr after being axed by Man United.

That watch was custom made and featured Ronaldo's iconic celebration on the front and back of it.

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The most expensive watch in his collection is believed to be worth £1.6m and is a Franck Muller, Van Cleef & Arpels timepiece with 474 white diamonds.

Ronaldo was hailed as the perfect partner by the co-chief executive Tim Stracke, who said: "No one brings passion for luxury watches to the world stage quite like Cristiano

"He has already solidified his place as one of the greatest athletes in history, and as an investor shows astute knowledge of world-class luxury and technology.

"That coupled with his authentic, proven passion for watch collecting makes him the perfect teammate as our company moves further into global expansion and our next chapter."