Whereas Manchester City F.C. were seen as the favorites of signing Juventus player Cristiano Ronaldo, Manchester United came at the last hour and turned the flow of events.
Shortly after announcing that they have reached the agreement to sign Ronaldo, share price of Manchester United on Stock Exchange rose sharply increasing the market value of the club by GBP 212M.
Shortly after the announcement, share prices rose by 9.8% before falling back slightly. The share price of the club opened yesterday at £12.62 and increased to 13.87 after the news of the transfer thus increasing the company’s market value by £212M ($293M).
This is not the first time that the Portuguese international is influencing markets. In 2018 when he signed for Juventus, the Italian club’s value rocketed by 30%. The shares price would then increase by 150% in the first year of his contract.
In Euros 2020 Presser in June 2021, Cristiano Ronaldo replaced a bottle of Coca Cola pressed in front of him on the table with a bottle of water which saw the share price of Coca Cola company fall and market value reduce by $4Bn.
Cristiano Ronaldo remains one of the most popular footballers who alongside Messi command the largest fan base in football world.
Ronaldo is expected to officially join Manchester United this weekend after a two year contract has been agreed upon by the player and the club.