US sportswear giant Nike says it is “deeply concerned” by rape allegations against Cristiano Ronaldo and shares in Italian champions Juventus fell over five percent on the Italian stock exchange on Friday.

Portuguese star Ronaldo is one of the world’s top athletes and boasts a number of lucrative sponsorship contracts.

But his relationship with Nike, which is rumoured to be worth $1 billion dollars (869 million euros), could be in jeopardy after police in Las Vegas announced this week they were reopening a rape case after allegations made by a former model, Kathryn Mayorga, relating to an incident in 2009.

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