Zlatan Ibrahimovic has become part owner of Swedish side Hammarby, the club announced on Wednesday.
The former Juventus, Barcelona and Manchester United striker has acquired 50 per cent of the stake held by entertainment conglomerate AEG.
Ibrahimovic, 38, has spent the past two years playing for AEG-owned LA Galaxy but confirmed his departure from the MLS outfit earlier in November.
Now a free agent, the striker sparked rumours on Tuesday of a stint with Hammarby when he tweeted an image of a playing shirt bearing his name.
But Wednesday's announcement indicated his involvement with the Allsvenskan team will be confined to an off-field role.
"Hammarby is a fantastic club with passionate supporters and has great respect in both Stockholm and Sweden," Ibrahimovic said in a statement.
"I have always liked the club and the fans and I am impressed with what the club has done in recent years, both on and off the pitch.
"Being able to join and develop Hammarby forward feels both fun and exciting."
Hammarby chairman Richard von Yxkull added: "It is too early to say anything in detail about how Zlatan can contribute to Hammarby Football, but there is clearly very great potential in the collaboration."
Ibrahimovic began his professional career with Malmo in his native Sweden in 1999.
He has been linked with multiple Serie A clubs in recent weeks, notably Bologna and Milan.