Reports indicate the market value of English Premiership side Manchester United has gone by 8 percent shortly after the club announced the return of their former player Cristiano Ronaldo back to the club.
Recall the club a couple of minutes ago announced that they have completed a 2-year deal for Juventus star Cristiano Ronaldo after both clubs and the player’s management agreed on a fee and some personal terms from the player.
The 36-year-old will rejoin the red side of Manchester 12 years after leaving the club for Real Madrid in 2009 for a world record fee of 94 million Euros becoming the world’s most expensive football player at that time.
According to Joel Pompliano, who writes daily emails breaking down the business and money behind sports for readhuddleup.com, the market value of Manchester United has gone up by 8% after the club announced that they have agreed on a deal with Cristiano Ronaldo.
He explained that this means Cristiano Ronaldo has already added about 250 Million Dollars to the market cap of Manchester United on the stock market even before kicking a ball for the club.
Cristiano Ronaldo is officially heading back to Manchester United. The result? $MANU is up 8%, meaning Ronaldo has added about $250 million in market cap to the stock already. That’s insane.