Shares of Italy’s most successful, best-known soccer team, Juventus, have surged on Tuesday after it was reported that the side is close to signing Real Madrid superstar Cristiano Ronaldo for 100 million euros ($117 million).
Spanish news outlet La Sexta reported earlier that a deal for Ronaldo is now almost done, and Sky News said that Juventus’ president, Andrea Agnelli, has flown to the Greek island of Kalamata — where Ronaldo is on holiday — to hold talks with the star.
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 the developing transfer, which was first rumored last week, has send Juventus shares skyward, with a gain of more than 8% from its opening price, according to Markets Insider data. As of 2:50 p.m. BST (9:50 a.m. ET) the stock was trading at €0.88 ($1.03), a gain of 8.6%. Juventus’ stock has climbed more than 32% since July 3 — just before rumours of a move began.