Ronaldo a goal machine and money-making machine for ambitious Juventus
TURIN, NOV 7: Cristiano Ronaldo's reputation has been tarnished by allegations of rape, but Juventus still believe he will help the Italian giants to reduce the financial gap between them and the world's very biggest clubs.
Juventus take on Manchester United the world's richest club and where Ronaldo became a star in Turin on Wednesday knowing a draw will seal their place in the last 16 of the Champions League.
They are counting on 'CR7' as they look to win the Champions League for the first time since 1996 they have lost five finals since then, including in 2015 and 2017. Ronaldo, now 33, has won the trophy five times himself.
"Financially it has been a very rational move," financial expert Carlo Alberto Carnevale Maffe told AFP. "The lifetime value of a player extends longer than his biological age.
"On the pitch he's one of the best. Ronaldo also makes the news, he gives visibility, conversation, discussion...raises your intangible value."
The news recently has been as much about the rape allegations in the United States, which Ronaldo himself has strongly denied, insisting he is "an example, 100 percent on and off the pitch".
But Juve president Andrea Agnelli who has orchestrated their domination in Italy since taking over the family-owned club in 2010 believes "the Ronaldo effect" can propel the "Old Lady of Turin" into another stratosphere. "We are fully convinced that Ronaldo is an added value in every respect, in terms of business, and will facilitate our global expansion," said Agnelli, who wants to target the US, Chinese and Southeast Asian markets.
According to the Deloitte Football Money League, Juventus are tenth in Europe with annual revenues of 405.7 million euros ($463 million) in 2017, with only three Italian clubs featuring in the top 20.
Manchester United top the list on 676.3 million euros ahead of Real Madrid (674.6m) and Barcelona (648.3m).
On the pitch, Ronaldo has made an impact, scoring seven goals in the champions' best-ever start to a Serie A season. They are on track for an eighth consecutive league title. Carnevale Maffe believes that Juventus can only gain despite the high price of a deal estimated to cost 340 million euros in total over four years, on top of the 110 million-euro transfer fee.
"When you are so close to success, all the planning, all the strategy may not be enough...the touch of genius is needed, and Ronaldo has that," added Carnevale Maffe, who lectures in Corporate Strategy at Milan's Bocconi School of Management. -AFP