Cristiano Ronaldo is more than your typical soccer player. With his iconic ‘CR7’ brand, the Portuguese icon has made his presence felt in fashion, cryptocurrency, soccer merchandise, tourism, and other sectors. However, Christmas did not bring the news Ronaldo would have hoped. The 38-year-old and his team had planned to launch a multi-million project in Manchester this year. However, the plan is in limbo, with the project in jeopardy to see the day of light anytime soon.

CR7 & family recently celebrated their first Christmas in Saudi Arabia. However, the soccer icon was still spotted training on the day, highlighting his ruthless commitment and dedication. It will be interesting to see how someone with Ronaldo’s mentality deals with a setback of this magnitude.

Cristiano Ronaldo & team fighting to save the ‘CR7’ hotel

The soccer star had secured planning permission to construct a 151-room luxury CR7 hotel in Manchester. The site was a historical property in the Northern Quarter of Manchester. However, the agreement expired recently in December, with the project seemingly in limbo. Remarkably, even three years since receiving the permission, the grade-2 site is still derelict. Recent photos of the property showed paint peeling off the walls and ceilings.

Notably, the project is a joint venture of Pestana Hotel Group, the official partner for CR7 hotels and Southern Green properties. A spokesman of CR7 reportedly told the Sun, “The next steps of the project are on hold, as the Group is still working on permitting matters.” It is not just a blow to Cristiano Ronaldo but to the entire community of Manchester itself.

The hotel would have created approximately 900 jobs and added more than $56 million to the local economy. Hence, the lack of progress in the venture is frustrating for all parties, including the Manchester City Council. However, what could be halting the plans?

Potential reasons behind the project’s stalling

As per the Sun, investors haven’t provided the necessary funds for the project. Since the project kick-started in 2020, the economic repercussions of the COVID pandemic would likely have had a bearing on the finances. Moreover, the site has been in despair for the last two decades. It would also have proved to be a roadblock in obtaining funds.

Read More: Cristiano Ronaldo Set to Make 1st Investment in Saudi Arabia as His Business Goes Global

Furthermore, a potential revenue source had been negated by the City Council. Likewise, an advertising agency was blocked for putting advertisements and billboards over the building. As per the council, this would have halted the project’s development since the income from the advertisements would have caused the site to remain vacant. However, it seems the Council’s decision did not yield the desired results in the end.

What is your view on the situation? Tell us in the comments below.

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