Exor N.V. said on Saturday it has rejected a proposal from Tether Investments to buy Exor’s entire 65.4% controlling stake in Juventus Football Club. The company’s board unanimously turned down the offer less than 24 hours after Tether made it public.
Exor reiterated that it has no intention of selling its shares to a third party and reaffirmed its commitment to retain ownership and support Juventus’ management as they pursue stronger sporting and financial results. Tether, already the club’s second-largest shareholder and recently granted a board seat, had indicated ambitions to help revive the club amid its recent financial challenges.
The decision was widely expected after Exor CEO John Elkann had previously stated the club was not for sale. In a video address, Elkann emphasized the family’s long-standing ties to Juventus and described ownership as a generational commitment spanning more than a century, saying the club “is not for sale.” Juventus coach Luciano Spalletti welcomed Exor’s choice, saying it places responsibility back on the football side to produce results.
The outcome leaves control with Exor and the Agnelli family while Tether remains a significant shareholder with influence through its board representation. The episode underscores tensions between outside investors seeking change and long-standing owners committed to continuity.
Key takeaways:
– Exor’s board unanimously rejected Tether’s bid for Exor’s full 65.4% stake.
– Exor and the Agnelli family reaffirm they will retain ownership and back the current strategy.
– Tether remains a prominent shareholder with a board seat and had sought to push a turnaround for Juventus.
