Tether Makes Bold Bid to Buy Juventus, Exor Rejects Offer
Tether offers €2.66/share for Exor’s 65.4% Juventus stake, but Exor firmly rejects the bid.
CEO Ardoino pledges €1B investment, signaling Tether’s long-term strategy in sports integration.
Tether’s $183.8B market cap and $12B gold reserves highlight robust financial strength.
Cryptocurrency firm Tether made headlines Friday by submitting a bold all-cash bid to acquire the entire Juventus stake owned by Exor, the Turin club’s main shareholder. The offer valued Juventus at 1.1 billion euros ($1.3 billion), with Tether proposing 2.66 euros per share
However, Exor, the holding company of the Agnelli family, swiftly dismissed the approach, confirming that “Juventus is not for sale.” Juventus shares closed at 2.19 euros on the Milan stock market, underlining the gap between market valuation and Tether’s offer.
Tether already owns 11.5% of Juventus and has positioned itself strategically within the club. Last month, shareholders appointed Tether nominee Francesco Garino to the board of directors. The company, which controls USDT—the world’s largest stablecoin—says it aims to “Make Juventus Great Again,” signaling its ambition to integrate sports with its AI, biotech, and cryptocurrency businesses
CEO Paolo Ardoino expressed personal commitment, stating, “For me, Juventus has always been part of my life. I grew up with this team.” He further added that Tether is financially robust and prepared to invest one billion euros to develop the club.
Exor’s Rejection and Market Context
Exor’s refusal comes amid rumors of possible Saudi investment, which the company has repeatedly denied. A source close to Exor stressed that the stance remains firm for Tether or any other bidder. Therefore, if Exor does not submit a written acceptance by December 22 at 1700 GMT, Tether’s bid will immediately expire.
Tether’s financial situation seems stable in spite of the setback. According to analysts, Tether is expected to make almost $15 billion this year, which could make it the most profitable corporation in the world. Additionally, its market value has increased by 50% year over year to $183.8 billion.
Furthermore, Tether apparently wants $20 billion in additional funding for a 3% ownership stake and has increased its gold reserves above $12 billion. Such moves indicate the firm’s broader strategy to strengthen financial influence while exploring investments beyond crypto.
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