- Tether has submitted a cash offer to buy the 65.4% stake owned by Exor in Juventus Football Club.
- Exor reportedly rejected the bid, stating that Juventus is not for sale.
- Tether pledged a $1.1 billion investment to support and develop the football club if the deal proceeds.
- Tether has gradually increased its stake in Juventus to over 10% and has gained board representation.
Tether, the issuer of the stablecoin USDT, announced on Friday its intent to acquire the controlling stake of 65.4% in Juventus Football Club owned by the Agnelli family’s holding company, Exor. The offer is an all-cash, binding proposal, and if accepted, Tether plans to make a public offer for the remaining shares at the same price. Juventus currently has a market capitalization of approximately $1.1 billion, closing trading at €2.23 ($2.62) per share.
However, the bid was reportedly declined by Exor, with a source close to the company stating that “Juventus is not for sale.” Neither Tether nor Exor responded immediately to requests for comment.
If the acquisition is completed, Tether has committed to investing €1 billion (around $1.1 billion) into the club for its support and development. Tether CEO Paolo Ardoino stated that the company is financially strong and ready to sustain Juventus with stable capital over a long period. He also noted his personal connection to the club, saying, “For me, Juventus has always been part of my life… I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity.”
Since February, Tether has been increasing its influence at Juventus, initially acquiring a stake and recently raising its share to over 10% in April. In October, the company nominated its deputy investment chief, Zachary Lyons, and Francesco Garino to join the club’s board of directors. The shareholders approved Garino’s appointment last month.
Tether is expanding beyond its core stablecoin business by investing in various sectors, including Artificial Intelligence and healthcare platforms. The attempt to take full control of Juventus Football Club marks its significant investment move into professional sports.
For more details, see Tether’s official statement and the report cited by AFP.
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