Key Takeaways
- Tether, the stablecoin issuer, submitted a binding, all-cash proposal to fully acquire Italian professional soccer club Juventus FC, valuing the club at over $1.1 billion.
- Exor, the Agnelli family’s holding company and majority owner for over 100 years, unanimously rejected Tether’s unsolicited bid, stating explicitly that the club and its “values are not for sale.”
- Tether’s CEO Paolo Ardoino had committed to a 1 billion euros ($1.1 billion) investment in the club’s development if the transaction completed.
Tether Submits All-Cash Bid to Acquire Juventus FC
The stablecoin kingpin, Tether, just made a stunning, all-out move to expand its empire by trying to buy the entire Italian soccer powerhouse, Juventus Football Club. Tether slapped down a binding, all-cash offer to Exor, the Agnelli family’s holding company, which controls 65.4% of the club—an ownership stake that dates back over a century.
The offer was simple: sell us the majority stake, and we’ll then offer the same price to buy up all the remaining public shares, effectively taking control of the entire company, valued at about €1.1 billion ($1.1 billion).
This isn’t just a cold financial play. Tether CEO Paolo Ardoino publicly spoke from the heart, saying Juventus had “always been part of my life.” But the finances are equally massive: Ardoino confirmed Tether is in a “position of strong financial health” and was ready to pump an extra €1 billion ($1.1 billion) into the club for its support and development.
Exor Unanimously Rejects the Takeover Bid
Despite the significant financial offer and commitment to development, the bid was swiftly and unanimously rejected by Exor. The holding company, which prides itself on the Agnelli family’s over 100-year history with the club, publicly squashed the proposal. The answer was a quick, decisive “No.” Exor’s board immediately and unanimously rejected the “unsolicited proposal submitted by Tether” to buy up the shares.
Exor CEO John Elkann drove the point home in a direct video message to the fans, making his position crystal clear: “Juventus, our history and our values are not for sale.”
The ownership, which reaffirmed its long-standing promise not to sell shares to any third party—including Tether—demonstrated that the Agnelli family views the club as more than just an asset.
Tether’s Expanding Influence in Traditional Spheres
Tether’s full acquisition attempt followed months of increasing engagement with the club. The stablecoin issuer first bought a stake in Juventus in February and subsequently boosted its ownership to over 10% by April. In October, Tether sought to deepen its influence by nominating its deputy investment chief, Zachary Lyons, and Francesco Garino to the football club’s board of directors.
The approval of Garino’s appointment by Juventus shareholders just last month demonstrated the stablecoin firm’s successful, albeit incremental, integration into the club’s governance structures—a path that appears to be continuing despite the failure of the full takeover bid.
Final Thoughts
The crypto giant Tether put $1.1 billion cash on the table to buy Juventus FC, proving just how ambitious the industry has become. But the offer was shot down instantly by Exor! The Agnelli family’s swift and firm rejection confirms that for an institution with over a century of history, there are some things money just can’t buy. Tether’s colossal stablecoin reserves were simply no match for the emotional and historical value the family places on the club’s legacy. It was a clear message: some institutions prioritize history over capital.
Frequently Asked Questions
Who is the current owner of Juventus FC?
Exor, the holding company of the Agnelli family, which has owned the club for over 100 years.
What was the main reason Exor rejected the bid?
Exor’s CEO stated that the club’s history and values are “not for sale,” emphasizing legacy over financial valuation.
What was Tether’s financial commitment?
Tether offered to fully acquire the club and invest an additional 1 billion euros ($1.1 billion) for development.
