Tether, the issuer of the widely used USDT stablecoin, made a high‑profile play to take control of Italian football club Juventus, only to have its offer firmly rejected by the team’s long‑standing owners, according to regulatory filings and market reports.
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The cryptocurrency firm submitted a binding all‑cash proposal to Exor, the holding company controlled by the Agnelli family that owns a majority stake in Juventus, offering approximately €2.66 per share, valuing the club at just over €1 billion. The bid was pitched at roughly a 21 percent premium to Juventus’ recent share price.
Tether already holds a minority stake of more than 10 percent in the Serie A club and recently secured a board seat, signaling deeper ambitions in the traditional sports arena. The proposal was backed with the company’s own capital and included plans — contingent on completion — for a €1 billion investment into the club’s future operations and growth.
Tether’s chief executive, Paolo Ardoino, an Italian native and long‑time Juventus supporter, framed the offer as more than a financial transaction. Documentation from the company described Juventus as embodying values of discipline, ambition and resilience — traits the stablecoin issuer said mirrored its own corporate ethos.
Despite the scale of the proposal and the capital commitment, Exor made clear it had no intention of relinquishing control. John Elkann, CEO of Exor and head of the Agnelli family empire, publicly stated that Juventus, with its century‑long history under family stewardship, was not for sale. In his remarks, Elkann emphasized the club’s heritage and core values, underscoring Exor’s commitment to maintaining its stewardship.
The rebuffed bid underlines the growing interest of crypto firms in high‑profile sports ownership — a trend seen recently in other European leagues — even as legacy stakeholders remain reluctant to cede control. Tether’s move into sports follows broader diversification efforts by the stablecoin issuer, which has pursued investments across tech, media and consumer‑facing sectors.
Juventus, one of Italy’s most storied clubs, has grappled with mixed results on and off the pitch in recent seasons, including financial challenges and inconsistent league performance. Regardless, the Agnelli family’s decisive rejection highlights the depth of their connection to the club and suggests that any future change in ownership would require negotiations far more extensive than Tether’s latest approach.