Pique has previously denied speculation that he was in the process of buying Catalan club Reus, but appears to be going ahead with the ambition of guiding a small club into Spain's professional ranks, mirroring the meteoric rise of Girona, now of La Liga.
According to Diari d'Andorra, Pique's company, Kosmos, will take on FC Andorra's debt, which stands at an estimated €200,000, effectively saving the club from a future of financial uncertainty.
Kosmos will therefore take over the economic rights and sports management of the club.
Pique is president of Kosmos, although he will likely not have a public role in running the club, with the responsibilities instead passed to trusted others.
Not actually from Spain, as their name would suggest, FC Andorra hail from the Andorran capital Andorra La Vella. They have traditionally been part of the Catalan Football Federation and were in the third tier of Spanish football for most of the 1980s and 1990s.
These days, FC Andorra play in Primera Catalana, a fifth tier league in Spain's ladder.
Pique is far from the first professional footballer to dabble in club ownership, with former Barcelona, Real Madrid and Brazil striker Ronaldo buying a controlling 51% stake in Real Valladolid earlier this year.
David Beckham, meanwhile, will see his new Inter Miami club join Major League Soccer in 2020.