Real's once; now a Liga division owner, primarily? (7)

I believe the answer is:

ronaldo

I'm a little stuck... Click here to teach me more about this clue!

'real's once' is the definition.
I know that 'real' relates to this answer.

'now a liga division owner primarily?' is the wordplay.
'now' becomes 'rona' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'primarily?' says to take the initial letters (I've seen 'primarily' mean this).
The first letters of 'liga division owner' is 'ldo'.
'rona'+'ldo'='RONALDO'

Can you help me to learn more?

(Other definitions for ronaldo that I've seen before include "Soccer star" , "Cristiano - - Portugese striker" , "European footballer" , "Red" .)

I've seen this clue in The Everyman puzzle in The Observer.

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