Stablecoin issuer Tether has made a bold move into European football by submitting a $1 billion all-cash bid to acquire Italian soccer giant Juventus Football Club, according to a company statement released Friday. The proposal targets Exor, the Agnelli family holding company that controls the club.
Tether confirmed that it submitted a binding offer for Exor’s 65.4% controlling stake, which the family has held for more than a century. Under the proposal, Tether said it would also launch a public offer to purchase all remaining Juventus shares at the same valuation.
Juventus, which is publicly listed on the Borsa Italiana, closed trading Friday with a market capitalization of €944.49 million, approximately $1.1 billion, after its shares rose 2.3% to €2.23.
Exor Pushes Back on Sale Reports
Despite the scale of the offer, the deal appears unlikely to proceed in the near term. AFP reported that Exor has already rejected the proposal, citing a source close to the holding company who stated that “Juventus is not for sale.”
Neither Exor nor Tether immediately responded to requests for comment from media outlets, leaving the final status of negotiations unclear.
Tether Pledges Long-Term Investment in Juventus
Tether said it is prepared to invest up to €1 billion ($1.1 billion) in Juventus’ long-term development if the acquisition moves forward. CEO Paolo Ardoino emphasized the company’s financial strength and personal connection to the club.
“Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon,” Ardoino said.
He added that Juventus has played a meaningful role in his life, citing the club’s legacy as a symbol of discipline, resilience, and responsibility.
Tether Expands Beyond Stablecoins
Best known as the issuer of USDT, the world’s largest stablecoin by market capitalization, Tether has increasingly diversified beyond digital assets. In recent years, the company has invested in artificial intelligence, robotics, and healthcare technology, signaling a broader corporate strategy.
Tether first acquired a stake in Juventus in February and expanded its holdings to more than 10% by April. The company has since increased its influence at the club, nominating Zachary Lyons, Tether’s deputy investment chief, and Francesco Garino to Juventus’ board of directors.
Last month, Juventus shareholders approved Garino’s appointment, marking a significant step in Tether’s growing involvement with the club’s governance.
Crypto and Sports Continue to Converge
Tether’s attempted takeover underscores a broader trend of crypto firms moving into professional sports, seeking global brand visibility and mainstream adoption. While Exor’s rejection may stall the acquisition, Tether’s expanding footprint within Juventus suggests its interest in the club remains far from over.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions
