Tether, the issuer of the USDT stablecoin, says it submitted a binding all-cash proposal to buy Exor’s 65.4% controlling stake in Juventus, offering roughly €1 billion (about $1.1 billion). The Agnelli family’s holding company, Exor, has owned the controlling stake for more than a century. Tether added that, if Exor accepted, it would launch a public offer to acquire the remaining shares at the same price.
Juventus is publicly traded with a market value of roughly €944.5 million (about $1.1 billion). Shares closed up 2.3% at €2.23 ($2.62) on Friday. AFP reported that Exor has rejected Tether’s approach, with a source close to Exor saying Juventus is not for sale. Neither Exor nor Tether immediately responded to requests for comment.
Tether said it is prepared to invest €1 billion to support and develop the club if the deal goes through. CEO Paolo Ardoino said the company is in strong financial health and would back Juventus with stable capital and a long-term outlook; he also noted personally that Juventus has been an important part of his life and taught him commitment and resilience.
Beyond issuing stablecoins, Tether has broadened its activities into investments in artificial intelligence, robotics and a health platform. The firm first bought a stake in Juventus in February and increased its holding to more than 10% in April. Tether has pushed for greater influence at the club, nominating deputy investment chief Zachary Lyons and Francesco Garino for seats on Juventus’s board; shareholders recently approved Garino’s appointment.