Juventus Football Club will remain under the control of the Agnelli family after its owner, Exor, unanimously rejected a takeover bid from stablecoin issuer Tether. The decision shuts down speculation around a potential crypto backed acquisition of one of Italy’s most historic football institutions.
In a statement released on Saturday, Exor confirmed that its board of directors had unanimously rejected an unsolicited proposal submitted by Tether to acquire all outstanding shares of Juventus Football Club. Exor reiterated that it has no intention of selling any of its shares in the club to a third party.
The holding company, which has owned Juventus for more than a century, said its position remains unchanged despite growing interest from outside investors. Exor specifically noted that its refusal applies to all potential buyers, including Tether, which is based in El Salvador.
The announcement followed Tether’s disclosure on Friday that it had submitted a binding all cash offer for Exor’s 65.4 percent controlling stake in Juventus Football Club. Tether also said it planned to make a public offer for the remaining shares at the same price if Exor agreed to the deal.
According to Reuters, Tether offered 2.66 euros per share, valuing Juventus at just over 1 billion euros. Juventus closed trading on Friday at 2.19 euros, giving the club a market capitalization of approximately 944.49 million euros. Tether did not immediately respond to requests for comment after Exor’s rejection.
Exor reaffirms long term commitment to Juventus Football Club
Exor chief executive John Elkann emphasized the emotional and historical significance of Juventus Football Club in a video published on the club’s official website. He said the club has been part of his family for 102 years and made clear that Juventus, its history and its values are not for sale.
Exor’s statement added that the Agnelli family remains fully committed to supporting the club’s new management team. The company said it will continue backing a long term strategy aimed at delivering strong results both on the pitch and in the club’s broader business operations.
Despite the rejection, Tether had outlined ambitious plans for Juventus Football Club if the acquisition had gone ahead. The company said it was prepared to invest 1 billion euros to support the club’s development over the long term. Tether chief executive Paolo Ardoino said Juventus has been part of his life since childhood and described the company as being in strong financial health with a stable investment horizon.
Tether, best known for issuing the USDT stablecoin, has been expanding beyond digital assets into traditional investments. The company first acquired a stake in Juventus in February and increased its holding to more than 10 percent in April. It has since sought greater influence within the club.
Last month, Juventus shareholders approved Tether’s nomination of Francesco Garino to the board of directors. However, the company was unsuccessful in securing a board seat for its deputy investment chief, Zachary Lyons.
The rejection of Tether’s bid underscores Exor’s determination to retain control of Juventus Football Club amid growing interest from non traditional investors. While crypto companies continue to explore opportunities in sports and entertainment, the decision highlights the limits of such expansion when legacy ownership and long standing institutional values are involved.
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