Zlatan Ibrahimovic has become a part-owner of Swedish outfit Hammarby, the club announced on Wednesday morning.
The striker had posted a photo of the club's kit on Instagram a day prior, leading to many believing that he would be swapping Major League Soccer for a return to Sweden.
However, the club stressed that it is too early to say exactly how Ibrahimovic will contribute moving forward.
A statement on Hammarby's official website reads: "This week, representatives of Hammarby Fotboll met with AEG and Zlatan Ibrahimovic in Los Angeles.
"AEG has informed Hammarby that it has sold half of its ownership in AEG Sweden to Ibrahimovic, which in turn means that Ibrahimovic becomes part-owner of Hammarby Fotboll AB."
Club chairman Richard von Yxkull added: "This is still new to us, but of course it is very exciting. The timing feels good; we've made some strong developments in recent years and next year we play in Europe.
"To then get a person like Zlatan Ibrahimovic into the club, with the passion and winning mentality he stands for feels right. It is too early to say anything in detail about how Zlatan can contribute to Hammarby, but there is clearly great potential in the collaboration."
AEG, short for Anschutz Entertainment Group, is the world's largest owner of sports teams and events, affiliated with football, ice hockey and golf as well as being the second largest presenter of live music and entertainment.
Having spent the most recent part of his playing career at LA Galaxy, fully owned and operated by AEG, whose headquarters are in Los Angeles, Ibrahimovic will have had plenty of time to consider the deal as he weighs up the next step in his long career.
The 38-year-old said: "Hammarby is a fantastic club with passionate supporters and has great respect in both Stockholm and Sweden. I have always liked the club and the fans and I have been impressed with what the club has done in recent years both on and off the pitch.
"Being able to join and develop Hammarby moving forward feels both fun and exciting."
In terms of his playing career, Ibrahimovic has been linked with a move back to Serie A with AC Milan, while a reunion with former manager Jose Mourinho at Tottenham has been ruled out by the new Spurs boss as the Premier League side "have the best striker in England" in Harry Kane.