Exor Shuts Down Tether’s Juventus Acquisition Plan

Juventus Football Club’s owner, Exor, has firmly rejected a takeover bid from stablecoin issuer Tether, saying the club is not for sale.

In an official statement, the holding company, controlled by Italy’s Agnelli family, said its board “unanimously” turned down Tether’s unsolicited offer to buy Exor’s controlling stake in the club.

Exor said the rejection was in line with its long-held position, stressing that it has no plans to sell any Juventus shares to outside parties. The company specifically named Tether, despite its growing stake in the club, making clear that full ownership of Juventus will remain with Exor and the Agnelli family.

Tether’s all-cash proposal

On December 12, Tether, best known for issuing the USDT stablecoin, submitted a binding all-cash proposal to Exor to buy its 65.4% controlling stake in Juventus Football Club.

The offer was made directly to Exor and, if accepted, would be followed by a public tender offer for the remaining Juventus shares at the same price, subject to regulatory approvals. Tether said the transaction would be fully funded using its own capital.

Tether described the proposal as a long-term investment rather than a short-term financial play. The company said it views Juventus as a historic institution with global reach and cultural significance, and framed its interest as rooted in respect for the club’s legacy and identity within Italian football.

As part of the proposal, Tether said it was prepared to invest an additional €1 billion into Juventus following the acquisition. The funds would be aimed at supporting the club’s development, strengthening sporting performance and helping it adapt to changes in the global sports and media landscape.

Exor responded by repeating that it has no intention of selling any of its Juventus shares to any third party. In a video message, Exor CEO John Elkann said that Juventus has been part of his family for more than a century and that the club’s history and values are “not for sale.”

The Agnelli family has owned Juventus for over 100 years, and Exor said it remains fully committed to backing the club’s current management and long-term strategy, both on and off the field.

Tether’s growing interest in Juventus

Tether has been steadily increasing its involvement with Juventus this year. In February 2025, Tether acquired a minority stake in Juventus Football Club, which marked their inaugural investment in the company. 

They later escalated their stakes to over 10%. Last month, its nominee, Francesco Garino, officially joined the club’s board, marking Tether’s first direct role in club governance.

Tether CEO Paolo Ardoino said the bid was driven by both financial strength and personal passion for the club, describing Juventus as a team he grew up supporting. 

Despite this, Exor wasted little time in killing the proposal, underlining how far apart Tether’s investment ambitions were from the emotional and historical ties the Agnelli family holds with the club.

The rejected bid has underlined a broader clash between the new crypto-backed capital and more traditional European football ownership, with Juventus standing as a symbol of where legacy outweighs price.

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