Manchester United & Juventus Gain $550 after Super League Announcement
Shares in Manchester United and Juventus surged 11% and 18% today as investors dreamed of riches from the breakaway European Super League.
Investors raced into shares as they predicted big new revenue streams despite the anger of the clubs’ domestic leagues.
Premier League clubs Arsenal, Chelsea, Liverpool, Manchester City and Manchester United are among 12 clubs who have agreed to join the new super-premium tournament.
They will join AC Milan, Atletico Madrid, Barcelona, Inter Milan, Juventus and Real Madrid in a new midweek competition.
The league is bound to lead to clashes with the Premier League and other local leagues and has led to widespread criticism from Boris Johnson, Uefa, and the Premier League.
Many have accused the clubs of “greed” but investors were clearly keen on the idea.
Manchester United shares were up $1.56 at $17.72, adding around $289 million to the paper value of the club.
Juventus was up 14c at 91c, adding e216 million to its stock market value.