Soccer club's shares rise following tweet announcing star athlete's return
Portuguese soccer star Cristiano Ronaldo’s return to his old team is giving the club a boost – and it’s not just on the pitch.
Shares of Manchester United, the British soccer club Ronaldo played for from 2003 until 2009, surged 8% in Friday trading in the U.S. following the announcement of his homecoming, according to reports.
While it was widely anticipated that he would leave his current team, Juventus, many forecast that he would be going to one of ManU’s top rivals, Manchester City.
Those speculations were proven false when the club’s official Twitter account broke the news at around 12 noon ET:
Welcome π΅πΌπΊπ², @Cristiano π΄#MUFC | #Ronaldo
— Manchester United (@ManUtd) August 27, 2021
After leaving Manchester United, Ronaldo joined Real Madrid, where he played until 2018. He was then picked up by Italy’s Juventus, whose stock soared by about 150% during the first year on the investor frenzy kicked up by his 100-million-euro (US$118 million) contract.
