Former Real Madrid forward Cristiano Ronaldo has agreed to a four-year contract with Italian football club Juventus. In a statement by Ronaldo, he said that the time had come for a new cycle, hence his decision to leave his former club after nine years.
The transfer was made for 100 million euros ($117 million). Ronaldo started his career with Manchester United (MANU - Free Report) in 2003 and since then has achieved unfathomable success, including being named the world’s most famous athlete by Forbes for three consecutive years.
Future of Juventus
This transfer has already started impacting Juventus. Shortly after the announcement, shares of its European stock (JUVE) were up 40%, the highest it’s been in about a year. Not only does this transfer boost Juventus' status, but it also signifies the fact that Italian clubs like this have the potential to draw real stars into their club.
Instead of Serie A being viewed as the underdog now, the league has the potential to be more. Alongside that, television viewership could potentially increase, causing TV networks to fight for viewer rights, potentially increasing the league's income. With Ronaldo apart of this club now, it could mean more international exposure, creating a better reputation abroad.
Juventus believes that fans will follow Ronaldo to Italy and his potential success with the club. Currently, Ronaldo has 134 million followers on Facebook’s (FB - Free Report) Instagram platform and 74.5 million followers on Twitter (TWTR - Free Report) . Not only is he famous on the field, but he has a strong online fan base and presence.
Future for Ronaldo
Ronaldo has become an international icon. Just last year, the star made 21 million EUR, on top of his $1 billion lifetime deal with Nike (NKE - Free Report) , making him the world’s highest paid athlete.
Being a part of Juventus not only means a new start for Ronaldo, but also a chance to push the entire league forward seeing as it hasn’t been on the forefront for a while. Clearly, this was apparent looking at JUVE’s share price over the past couple of months, until its spike after the transfer announcement.
Fans can look to see Ronaldo in a different light, yet still bring the same success he brought to his former clubs.
It seems apparent for now that this transfer means good things for Juventus in the long run. In the upcoming four years, we can hope to see a surge in fan base and viewership for the club, having one of the most successful players on the team.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>