Shares in Italy’s most successful, best-known soccer team, Juventus, have jumped after rumors emerged that the Real Madrid star Cristiano Ronaldo could make a summer move to Italy.
An article in O Jogo, a newspaper in Ronaldo’s native Portugal, said on Wednesday that Juventus had bid about €100 million ($117 million) for the forward and that his Spanish club was considering the offer.
Ronaldo is thought to have a release clause of between €120 million and €130 million ($140 million-$152 million) in his Real contract, which if met would mean Juventus could immediately begin discussions with Ronaldo — if he is looking to join the Turin-based side.
Ronaldo is Real Madrid’s top all-time goal scorer, with 451 goals since moving there in 2009. He has won five Ballons d’Or — the most prestigious individual trophy in world soccer — and is arguably the greatest player in the history of the sport.
News of a possible move for Ronaldo has buoyed investors in Juventus. Along with any on-field success, his signing would most likely give the club’s revenue a significant boost through merchandise sales and other commercial opportunities.
Shares popped more than 8% at the open on Thursday, as the news broke after markets closed Wednesday. As of 12:10 p.m. BST (1:10 p.m. CET; 7:10 a.m. ET), the club’s stock — which trades on Milan’s Borsa Italiana — was up 6.3% at €0.83 ($0.97).
Source: Will Martin|| Business Insider