Financially stricken Spanish club Real Oviedo says Mexican tycoon Carlos Slim has agreed to invest ?2 million ($2.5 million) in the third-tier team, which had been facing bankruptcy before a massive fund-raising effort by fans.

Oviedo narrowly staved off financial extinction after supporters over the past two weeks bought more than ?1.5 million ($1.9 million) in new shares in the club.

The club said in a statement on Saturday that Slim decided to become the new majority shareholder because of Oviedo's ''history in Spanish professional football and above all for the extraordinary support of its fans.''

Oviedo, which has spent a total of 38 seasons in the top division, said in its statement that Slim plans to use the club ''to create synergies and exchanges between Spanish, Mexican and Latin American football.''