Juventus football club has rejected the bid from USDT parent company Tether to take control of the club. The Italian club turned down Tether’s offer to acquire the full shareholding from Exor, Juventus’ principal stakeholder.
According to reports, the Agnelli family, which controls Juventus, has stated that it does not intend to sell its majority stake in the club. Tether announced on Friday evening that they had tabled a “binding all-cash proposal” to purchase Exor’s shares in the club. Exor is the holding company owned and controlled by the Agnelli family, who have owned Juventus since 1923. However, the Agnelli family has sternly rejected the proposal, stating that it is not willing to reduce its ownership to Tether or any other party, as the club is not for sale.
Juventus turns down Tether amid proposal to acquire Exor’s holdings
Tether’s proposal is aimed at acquiring Exor’s holding, which accounts for about 65.4% of Juventus’ outstanding shares. Subject to regulatory approvals and acceptance by the seller, Tether stated that it would launch a public tender offer for the remaining shares at the same price. The offer is priced at €2.66 per share, valuing 100% of the company at approximately €1.1 billion.
This is a massive sum, which would have marked one of the most sensational deals in recent European football history. Additionally, Tether stated that, if the acquisition were to proceed, it would provide Juventus with approximately an additional €1 billion to strengthen the first team and support the club’s overall development. “Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon,” CEO Paolo Ardoino said
Tether has pushed aggressively into new sectors over the past year. It has invested in artificial intelligence, robotics, and health-tech ventures. However, its move into football has been gradual. So far, Tether has acquired an 11.5% stake in Juventus, making it the club’s second-largest shareholder. Both Tether and the Agnelli family’s investment company have shown commitment to the club.
In November, they participated in a €97.8 million capital increase aimed at reducing debt and supporting the club’s strategic plan. Tether has gained influence inside the club. In October, the crypto giant nominated Deputy Investment Chief Zachary Lyons and Francesco Garino to Juventus’s board, and shareholders approved Garino’s appointment last month. Meanwhile, Juventus is valued at roughly €944 million ($1.1 billion). It saw its share price rise 2.3% to €2.23 ($2.62) after Tether’s interest.
