Manchester United stock market value rises by 8% representing $250 million after signing Cristiano Ronaldo

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Manchester United’s value on the stock market has seen a substantial rise after announcing their intention to sign Cristiano Ronaldo, Bloomberg reports.

The stock value of Manchester United has risen by 8 per cent representing $250 million.

Manchester United’s stock rose as much as 11% in New York trading after the club confirmed a deal with Juventus Football Club S.p.A for Ronaldo’s transfer, subject to personal terms, visa and medical approval. The Italian football club’s stock rose 1.2 per cent on Friday.

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The move came just one day after it was reported that rival Manchester City was the frontrunner to sign Ronaldo. According to ESPN, the star forward agreed to a 15 million euro contract with an option for an additional 8 million euro in add-ons over two years.

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