Juventus FC Shares Take a Hit After Ronaldo Allegation

TURIN, ITALY - SEPTEMBER 29: Cristiano Ronaldo of Juventus FC in action during the Srie A match between Juventus and SSC Napoli at Allianz Stadium on September 29, 2018 in Turin, Italy. (Photo by Gabriele Maltinti/Getty Images )

Italian club Juventus shares took a hit on Friday after the criticism over the rape allegations against football star Cristiano Ronaldo. The Portuguese footballer has denied the allegation that surfaced earlier this week.

Cristiano Ronaldo joined Juventus in a shock move just a few months ago. The Portuguese footballer won the Champions League trophy last year but hinted at a move from the club after the game. Weeks later, the Italian club completed a shocking move for Ronaldo, who had been playing for Real Madrid since 2009.

The club’s shares hit record levels when Ronaldo joined Juventus earlier this year. Sports sites reported that jersey sales were a major boost for the club.

The share drop comes after the club’s social media accounts made several posts on the allegations. In one of the posts, the club says that the events allegedly dating back almost ten years ago do not change the opinion on his professionalism and dedication.

The club also made another post that made things even worse. Social media users have criticized the posts and some have asked for the club to apologize. The first post made by the club on the allegations received nearly 3,000 replies in just a few hours.

Just a few days ago, Kathryn Mayorga, who works as a teacher in Nevada, spoke to the Der Spiegel magazine and alleged that Ronaldo raped her in Las Vegas in 2009. She alleges that it happened after they met at a nightclub. The lawyers representing her are reportedly seeking to void a 2010 non-disclosure agreement she signed out of court. The financial settlement was reportedly for $375,000.

Cristiano Ronaldo recently denied the allegations made by Kathryn Mayorga. The lawyers representing the football star have reportedly said they will sue the magazine.

Juventus manager Massimiliano Allegri has revealed that Ronaldo will be ready to return to action in their next match against Udinese on Saturday. The Portuguese star opened the first few games without a goal but has now bounced back.

Ronaldo’s transfer to Juventus has put the club as a favorite to win the Champions League this year. Juventus has reached two finals in recent years but has lost both. The club signed Ronaldo for $130 million in July. Share prices increased 180 percent shortly after the signing. In September, the shares hit 1.80 euros but on Friday, they closed at 1.19.

Las Vegas police recently said it had reopened the investigation. Nike and EA Sports, companies that the Portuguese star has deals with, have both said that they are looking at the situation closely. Ronaldo is featured in the cover of EA’s football title FIFA 19, which was released just a few days ago.