The squad controlled by the Brazilian legend earned its status in the first division after defeating Huesca 3-0 at home, while Eibar fell 1-0 to last-place Alcorcón.
Valladolid began the last round in third position, after Eibar and one of the two qualifying slots in the top tier.
Almera, which was purchased by Saudi Arabian Turki al-Sheikh in 2019, finished first following a 2-2 draw against Leganés and will return to the first division for the first time since the 2014-2015 season.
Eibar still has a chance to get promoted, but it will have to compete for the final playoff berth.
Las Palmas, which came fourth after defeating Sporting Gijon 1-0, also advanced to the playoffs. Fifth-place Tenerife and sixth-place Girona have already secured their playoff positions.
Ronaldo, a two-time World Cup champion and legendary Real Madrid and Barcelona striker, purchased a 51 percent ownership in Valladolid in 2018 while the club was still in the first tier.
“With a pandemic and all, it was a hard season,” Ronaldo told Spanish media.
“Wow. This is fantastic.” We worked hard and battled tough, but despite suffering until the very last second, we achieved our aim of returning to the top division.” Ronaldo, who was in France for the Champions League final on Saturday, joined his teammates on the field after the encounter in Valladolid on Sunday.
“This group, the assistant coaches, and the supporters have achieved a magnificent success,” Ronaldo remarked.
“We have to have fun with it. We’ve returned to where we belong.” Valladolid has spent four consecutive seasons in the second level before to the 2018-19 season.
Eibar had spent seven consecutive seasons in the top division before being relegated last season, and needed a win to achieve promotion without relying on other results. In stoppage time, it surrendered to Alcorcón.
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