Finance guru: Cristiano Ronaldo hurting Man United stock price as Police probe underway
The police probe into Cristiano Ronaldo’s conduct at Everton last Saturday (9 April) could hit the Man United share price.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the impact of the PR disaster on United as a PLC.
Ronaldo, 37, appeared to slap a young Toffees fan’s phone out of their hand as he walked down the tunnel following the 1-0 defeat at Goodison Park.
A Merseyside Police spokesperson told Sky News last Sunday (10 April) that the force is investigating the incident.
The Red Devils’ share price soared after Portuguese superstar Ronaldo re-signed last August but hit a new low of $12.04 in early March.
The price fell from $14.75 when the New York Stock Exchange closed last Friday (8 April) to $14.20 after trading resumed yesterday (11 April).
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Plumley suggests that bad PR generated by Ronaldo, as well as a result that saw United slip away from the top four race, may have had an impact.
“I don’t think any club is invulnerable to PR damage,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“Bad press is bad press and does have an impact on what people are saying about the club.
“This is a bizarre example but it is still affecting the club and the player himself.
“United are listed on the New York Stock Exchange, which puts extra pressure on them because bad press can impact their stock price.
“The result of course will also have factored into this as well, of course.
“You imagine that this would be tidied up but it will affect them in the short term nonetheless.”
Ronaldo has scored 18 goals and supplied three assists in 34 appearances since his dramatic return to Old Trafford.
His apology and offer to bring the young Evertonian to a match Old Trafford have been rejected.