Tether has made a high profile move into professional sports by submitting a bid to acquire Juventus Football Club, one of Italy’s most historic soccer teams. The stablecoin issuer confirmed on Friday that it had presented a binding all cash offer to Exor, the Agnelli family holding company that controls Juventus.
According to Tether, the proposal targets Exor’s 65.4 percent controlling stake in Juventus, which the Agnelli family has held for more than a century. If Exor were to accept the offer, Tether said it would proceed with a public offer to purchase the remaining shares at the same price.
Juventus is a publicly listed company with a market capitalization of about 944.49 million euros, or roughly 1.1 billion dollars. The club’s shares closed Friday’s trading session up 2.3 percent at 2.23 euros.
Despite the formal bid, reports suggest the deal may already be off the table. AFP cited a source close to Exor saying the holding company has rejected the proposal and that Juventus is not for sale. Neither Exor nor Tether responded immediately to requests for comment following the report.
Tether pledges long term investment in Juventus
Tether said it is prepared to invest up to 1 billion euros in the development and long term support of Juventus if the acquisition is completed. The company positioned the bid as a strategic investment rather than a short term financial play.
Tether CEO Paolo Ardoino said the company is in strong financial health and capable of providing stable capital with a long investment horizon. He also highlighted a personal connection to the club, saying Juventus played a role in shaping his values while growing up.
Tether has steadily expanded its involvement with Juventus over the past year. The company first acquired a minority stake in the club in February and increased its ownership to more than 10 percent in April. Since then, Tether has sought to deepen its influence within the organization.
In October, Tether nominated its deputy investment chief Zachary Lyons and Francesco Garino to Juventus’ board of directors. The strategy paid off when shareholders approved Garino’s appointment to the board last month, strengthening Tether’s presence at the governance level.
The attempted acquisition reflects Tether’s broader push beyond stablecoins. While best known for issuing the USDT stablecoin, Tether has expanded into artificial intelligence, robotics and digital health platforms. The Juventus bid signals growing interest in high profile real world assets that extend beyond the digital economy.
Juventus, one of Europe’s most recognized football brands, has faced financial and sporting challenges in recent years. While Exor has not indicated any willingness to sell, Tether’s move highlights how crypto firms are increasingly targeting legacy institutions as part of long term diversification strategies.
Even if the bid does not progress, the attempt underscores Tether’s ambition to position itself as a global investment powerhouse rather than solely a stablecoin issuer. The outcome may also influence how other crypto companies approach acquisitions in traditional industries.
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