Cristiano Ronaldo has reportedly purchased a majority stake in Portuguese agency Thing Pink for an unknown sum, with the aim of launching a digital venture called 7egend.
The world's richest footballer has alluded to the project on his on social channels, with the news being reported by both Portugal's Eco news title and TechCrunch.
The move will apparently see Thing Pink, which has offices in Lisbon and Oporto, rebrand to 7egend. The business is thought to be evolving the services it offers, with plans in the pipeline to start producing its own stand-alone tech products.
TechCrunch claims that Ronaldo has invested in the agency with a view to create a tech brand and a vehicle to launch new tech products. Eco, meanwhile said a source close to Ronaldo confirmed the news, saying the Real Madrid forward was keen to make a bet on a sector that was "increasingly more present in people’s everyday life."
The Drum has reached out to Thing Ping for confirmation of the reports. 7egend branding has already appeared on Thing Pings own site, while separate Facebook and Instagram pages have also spung up.
It's believed the chief executive of 7egend – named after Ronaldo's shirt number – is Luís Parafita, who has been Thing Pink’s chief executive since 2007.
Thing Ping oversaw the digital and tech aspects of the CR7 museum in Madeira, which is dedicated to Cristiano Ronaldo's trophies.
The celebrity isn't the first footballer to make forays into the marketing world. In 2013 Brazil's Ronaldo joined WPP on a temporary basis to learn the industry ropes.