Manchester United’s value on the stock market has seen a substantial rise after announcing their intention to sign Cristiano Ronaldo, Bloomberg reports.
The stock value of Manchester United has risen by 8 per cent representing $250 million.
Manchester United’s stock rose as much as 11% in New York trading after the club confirmed a deal with Juventus Football Club S.p.A for Ronaldo’s transfer, subject to personal terms, visa and medical approval. The Italian football club’s stock rose 1.2 per cent on Friday.
The move came just one day after it was reported that rival Manchester City was the frontrunner to sign Ronaldo. According to ESPN, the star forward agreed to a 15 million euro contract with an option for an additional 8 million euro in add-ons over two years.