Manchester United saw their shares’ value rise by 8 percent after the Premier League side announced the return of Cristiano Ronaldo. The Red Devils’ revealed details about striking a deal with Juventus that would see the Portuguese icon make an incredible comeback on Friday.
— Manchester United (@ManUtd) August 27, 2021
The club’s shared a statement announcing, ‘Manchester United is delighted to confirm that the club has reached an agreement with Juventus for the transfer of Cristiano Ronaldo, subject to agreement of personal terms, visa and medical.’
According to reports on CNN, the news of Ronaldo returning to Old Trafford gave a major boost to the shares of United that are being publicly traded in the United States. The 36-year-old back was heavily linked with a move to Manchester City on Friday but swift movements from Man United’s board and people associated with the club alongside Ronaldo’s agent saw the Portuguese choose to return to his former club.
The Red Devils will reportedly pay an initial fee of £12.8million to Juventus with £7million more to be paid in add-ons if the conditions mentioned in the contract are fulfilled. The deal also will see the former Juventus star put pen on paper to sign a two-year contract with the Premier League side.
The Portugal international is one of the greatest players of all time with a massive fan following. Ronaldo has 334 million followers on Instagram with 93.7 million profiles following him on Twitter as well.
His online popularity had a major impact on the Red Devils’ social media as United’s Instagram followers grew from 43.1 million to 44.3 million just 2 hours after Ronaldo’s announcement.
Ronaldo won three Premier League titles, Champions League, and also bagged FA Cup and the League Cup medals from 2003 to 2009 during his first stint with United. Scoring 118 goals in 292 games, the Portuguese international was one of United’s most valuable players before he joined Real Madrid. He will be hopeful of replicating his success with the Red Devils once again as Ole Gunner Solskjaer’s men aim to hunt for glory in the ongoing 2021-2022 season.