Exor N.V. has rejected Tether Investments’ proposal to buy its full 65.4% controlling stake in Juventus Football Club, the company said in an official statement on Saturday. The board unanimously turned down the offer less than 24 hours after the crypto firm made it public.
Exor said it has no intention of selling its shares to a third party and reaffirmed its commitment to retain ownership and support Juventus’ management in pursuing strong sporting and financial results. Tether, which is already the club’s second-largest shareholder and recently gained a board seat, had signaled ambitions to revitalize Juventus amid the club’s recent financial struggles.
The refusal was widely anticipated: Exor CEO John Elkann had previously stated that the club was not for sale. In a video address, Elkann emphasized the family’s long connection to Juventus, saying the club “is not for sale” and describing ownership as a generational commitment spanning more than a century.
Juventus coach Luciano Spalletti welcomed Exor’s decision, saying it places responsibility back on the football side to deliver results.
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 significant shareholder with a board seat and had aimed to push a turnaround for Juventus.
