The market value of Manchester United stock rose by 8 percent representing over $250 million in monetary terms less than 24 hours after the club announced it had reached agreement to sign Cristiano Ronaldo
According to a Bloomberg report Manchester United Plc stock price rallied as investors and fans rejoiced over the sensational return of Cristiano Ronaldo to the club he called home more than a decade ago.
In another report by Dailymail UK, Manchester United also recorded over 1 million new followers in two hours on its Instagram account.
According to the report , the English club’s Instagram followers rose from 43.1 million to 44.3 million.
Ronaldo is joining Manchester united from Juventus after both clubs agreed a fee of around 20 million British pounds.
The Portugal international is expected to sign a two-year contract at United.