Shares in Italy’s most famous and most successful soccer team, Juventus, have jumped after rumors emerged that Real Madrid star Cristiano Ronaldo could make a summer move to Italy.
A news story in O Jogo, a newspaper in Ronaldo’s native Portugal, said on Wednesday that Juventus has bid around €100 million ($117 million) for the forward, and that Spain’s Real Madrid is now considering whether or not to accept the offer.
It is believed that Ronaldo has a release clause of €120 million ($140 million) in his Real contract, which if met would mean Juventus could immediately begin discussions with Ronaldo — if he was 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, as his signing would not only contribute to on field success, but also likely give the club’s revenues 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 on 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 — is up 6.3% at €0.83 ($0.97).
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