Crypto Firm Tether Makes All-Cash Bid to Buy Juventus, But Owners Insist Club Is Not for Sale
GeokHub
Contributing Writer
Milan / Decr 12 (GeokHub) Cryptocurrency giant Tether has submitted a binding all-cash proposal to acquire control of Italian soccer powerhouse Juventus Football Club, offering to buy the majority stake held by the Agnelli family’s holding company, Exor. The bid values the club at just over €1 billion, including a 21 percent premium over the current share price, and includes a pledge to invest an additional €1 billion into the club if the takeover succeeds.
Tether — already a minority shareholder with more than 10 percent of Juventus stock — said the proposal would see it acquire Exor’s 65.4 percent stake, with a public tender offer extended to other shareholders at the same price per share. The company’s chief executive, Paolo Ardoino, who is also a lifelong Juventus supporter, framed the bid as a long-term commitment to restoring the club’s fortunes on and off the pitch.
Despite the high-profile offer, sources close to Exor say Juventus is not for sale, reaffirming that the family’s century-long association with the club — dating back to 1923 — remains intact. The Agnellis have repeatedly indicated they have no plans to relinquish control, even as Juventus has faced financial losses and declining on-field performance in recent years.
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Juventus shares have slid about 27 percent this year as the club has struggled both financially and competitively, but Exor’s stance suggests the family remains committed to maintaining its leadership role. Tether’s bid, whether successful or not, marks one of the most ambitious attempts by a cryptocurrency firm to enter the elite realm of European football ownership.
