Cristiano Ronaldo signing sees Manchester United stock market value soar by £212m

Manchester United's announcement that they have agreed a deal to re-sign Cristiano Ronaldo from Juventus saw their stock price rise by as much as £212m in a matter of hours.

The Red Devils confirmed the return of one of their greatest ever players on Friday following a whirlwind few hours which saw them hijack Ronaldo's imminent switch to cross-town rivals Manchester City.

Man United will pay a minimum of €20m (£17.1m) for the five-time Ballon d'Or winner, with add-ons and bonuses potentially taking the fee up to around £20m.

The biggest expense will be Ronaldo's wages, although the Portuguese forward is rumoured to be willing to take a pay cut in order to complete the move, with personal terms yet to be finalised.

Some reports have suggested that Ronaldo could still command wages of around £500,000 per week over a two-year contract, although even that expense has been dwarfed by the rise in stock value since his arrival.

At its peak on Friday, Man United's stock value rose by £212m - almost a 10% increase from the beginning of the day.

The stock price has since decreased slightly, although it is still significantly up on the price before Ronaldo's arrival.

The 36-year-old is set to join up with his new teammates after the international break, and could make his second debut for the club against Newcastle United on September 11.