Tether Submits $1B Offer to Acquire Juventus FC From Exor Holding

TLDR

Table of Contents

Tether made a $1B offer to acquire Juventus FC from Exor.
Exor rejected Tether’s proposal, stating Juventus is not for sale.
Tether has increased its stake in Juventus to over 10%.
Tether promises a $1.1B investment in Juventus if the bid succeeds.

Stablecoin issuer Tether has made a bold move in the world of sports by submitting a $1 billion all-cash offer to acquire Juventus Football Club from Exor, the Agnelli family’s holding company. This proposal, which aims to purchase the club’s 65.4% controlling stake, was quickly rebuffed, with Exor stating that Juventus is not for sale. Despite the rejection, Tether remains committed to supporting the club’s future development.

Tether Makes $1B Bid for Juventus FC

Stablecoin issuer Tether has announced a significant move to acquire Juventus Football Club. The company submitted an all-cash proposal to Exor, the Agnelli family’s holding company, for its 65.4% controlling stake in the Italian football club.

This proposal values the club at approximately $1.1 billion, matching its current market capitalization. However, sources close to Exor indicate that the bid was rejected, with the company asserting that Juventus is not for sale. Despite this, Tether remains committed to its vision and financial backing for the club.

Tether’s proposal includes a commitment to purchase all remaining shares at the same price should Exor accept the offer. This could have meant full control of Juventus by Tether, aligning with its efforts to expand its investments beyond stablecoins into sports and other industries. Tether’s bid comes after its initial stake in Juventus was secured earlier this year.

Exor Rebuffs Tether’s Offer

The Agnelli family’s holding company, Exor, has firmly rejected Tether’s $1B bid. According to reports, a source familiar with the matter confirmed that the holding company stated Juventus is not up for sale.

Exor has controlled Juventus for over a century and has deep ties to the club’s legacy. The decision to reject the offer underscores Exor’s stance on maintaining control of the historic football institution, despite Tether’s increasing involvement with the team in recent months.

Tether, which issues the widely used stablecoin USDT, has gradually grown its stake in Juventus. It first acquired shares in the club earlier this year and later raised its ownership to over 10%. In addition to buying shares, Tether also nominated representatives to Juventus’ board, with two individuals gaining approval for board positions in October.

Tether’s Commitment to Juventus

Tether has emphasized its intent to support Juventus in the long term, citing the club’s historical significance and its personal connection to the team. CEO Paolo Ardoino, who expressed his lifelong passion for Juventus, stated that the company is well-positioned financially to back the club.

If the transaction had been approved, Tether committed to investing $1.1 billion into Juventus for its continued development. This would include capital support and resources aimed at strengthening the team.

Despite Exor’s rejection, Tether remains optimistic about Juventus’ future and its potential role in supporting the club. With a solid financial foundation, Tether is prepared to provide stable capital to Juventus, ensuring the team has the resources it needs to compete at the highest levels.

Tether’s Broader Investment Strategy

This move is part of Tether’s broader strategy to diversify its portfolio and expand its influence beyond the crypto sector. In addition to stablecoin operations, Tether has begun investing in emerging technologies such as artificial intelligence, robotics, and healthcare.

The company has made its intentions clear: it plans to make high-value investments to secure long-term growth. Juventus, with its global recognition and strong fan base, is an attractive asset for Tether to back, though it remains to be seen whether further offers will be made in the future.

Despite the setback, Tether’s interest in Juventus reflects its ambition to broaden its investment activities. The company’s involvement with the club is set to continue, especially given its increasing stake and board representation. The outcome of this bid may shape Tether’s future endeavors in the world of sports investments.