Juventus Jumps Most in Four Years After Dramatic Win in London
(Bloomberg) -- Juventus Football Club S.p.A. shares gained the most in more than four years after a dramatic comeback against Tottenham Hotspur in London secured the team’s place in the UEFA Champions League quarter-final.
The Turin-based side looked set to crash out of the tournament with less than half an hour of normal playing time left at Wembley stadium Wednesday, but late goals from Gonzalo Higuain and Paulo Dybala snatched victory for the club known as “la Vecchia Signora,” or Old Lady.
Teams through to the last eight receive a further 6.5 million euros ($8.05 million) from the prize pot and there’s an added payment of up to 23 million euros at stake for going even further in the competition. But the main financial benefit comes from the relationships that added exposure brings, according to Robert Wilson, a lecturer in sports business management at Sheffield Hallam University in the north of England.
“With playing success inextricably linked to financial success, progression in the UCL in front of the world’s global media will please sponsors, commercial partners and shareholders alike,” he said by email.
The stock rose as much as 17 percent in early trading, the biggest jump since October 2013, making it the best performer on the FTSE Italia PIR Mid Cap index on Thursday.
©2018 Bloomberg L.P.