For years, some Manchester United fans insisted that big transfers can’t be conducted by the club without an appropriate announcement being made to the relevant US stock market.
This became a myth about when transfers could and couldn’t be announced, and it was, of course, complete nonsense.
That said, United potentially sending a big chunk of money to a club with lesser finances can be a big deal.
As reported by Jornal de Negócios, Sporting’s shares increased by 5.96% following rumours which said Bruno Fernandes is close to joining Manchester United.
Although only 319 shares were negotiated, which is a lot less than the 793 daily average, the growth of almost 6% in their value is considered to be a big deal for the club.
Jornal de Negócios had a chat with Gualter Pacheco, a trader from Go Bulling at Carregosa Bank, who pointed out Bruno Fernandes’ potential transfer to Manchester United as the main reason for the news.
“Really, if we look at the liquidity, very few shares were traded. But if we consider the appreciation of the title, it’s a strong rise,” he said.
“The main cause is the possible sale of Bruno Fernandes which, to happen for the high values that have been disclosed, would be very positive for the company accounts.”
The outlet points out that Fernandes’ transfer would represent the biggest sale in Sporting’s history. For a club with serious financial difficulties, it’s perhaps no surprise the news is being taken well by investors.