Tether has lodged a formal all-cash offer to buy Exor’s 65.4% controlling stake in Juventus, and plans a follow-up public tender to acquire all remaining shares at the same price. The company says the acquisition would be funded solely from Tether’s balance sheet, with no external financing.
CEO Paolo Ardoino framed the approach as personal, saying Juventus shaped his sense of commitment and responsibility growing up, and described the proposal as a humble, responsible step for the club’s future. As part of the plan, Tether has pledged €1 billion to support Juventus’ growth and long-term sporting development if the deal completes.
Tether presented the move as consistent with corporate values of patience, independence and long-term resilience rather than a purely financial play. The transaction still faces several conditions, including Exor’s approval, execution of a definitive agreement and regulatory clearances. If Tether secures Exor’s stake, it intends to make the same offer available to minority shareholders.
The bid is one element of Tether’s effort to diversify beyond its USDT stablecoin business. Recent initiatives include a $1.5 billion commitment to commodity trade finance across oil, cotton and wheat; the launch of QVAC Health for wearable data management; a partnership with HoneyCoin to expand digital-asset adoption in Africa; an application for an El Salvador investment fund license; and a share buyback program.
Tether reported more than $10 billion in net profit in the first three quarters of 2025. Its disclosed reserves include $12.9 billion of gold and $9.9 billion of Bitcoin, USDT circulation topped $174 billion by September, and total assets are approaching $200 billion, which the company says gives it capacity for large acquisitions.