Tether's acquisition of Juventus Football Club dreams shattered! Exor's board unanimously rejects: a century of heritage outweighs all monetary temptations

Major stablecoin giant Tether invests heavily to acquire the Juventus football club, offering €1.1 billion in cash and promising an additional €1 billion investment, only to be abruptly rejected within a day by the controlling family Exor: the Agnelli family states that a century-long legacy outweighs any monetary temptation. This clash between cryptocurrency and traditional football dynasties ends here.
(Background summary: Tether’s €1.1 billion proposed acquisition of Italian Juventus Football Club could become the largest sports merger in Web3 history)
(Additional background: Bloomberg reports Tether plans to raise $20 billion and considers “stock tokenization,” halting shareholder sell-offs amid a $50 billion valuation)

The world’s largest stablecoin issuer, Tether, announced on December 12 that it had submitted a binding all-cash bid to Exor, the holding company of the Italian Agnelli family, aiming to acquire approximately 65.4% of Juventus Football Club at €2.66 per share. The total valuation of Juventus based on this offer is about €1.1 billion, representing a premium of approximately 21% over the closing price of €2.19 on December 12. If successful, Tether would initiate a mandatory full acquisition, buying out the remaining circulating shares at the same price to gain full control of the club.

Tether emphasizes that the funding for the acquisition comes entirely from its own cash reserves, with no debt involved; after the deal, an additional €1 billion will be invested in team operations, player acquisitions, and infrastructure. Tether CEO Paolo Ardoino, who has long claimed to be a loyal Juventus fan, stated that this move is not only a business investment but also out of love for the club. He hopes to elevate from the current second-largest shareholder (holding about 11.5%) to the controlling shareholder, leading “The Old Lady” back to its peak.

Exor explicitly rejects the acquisition

However, just one day later, on December 13, Exor issued an official statement that its board of directors unanimously rejected Tether’s bid. Exor reaffirmed its consistent stance: “No intention of selling any of its shares in Juventus to third parties, including but not limited to Tether, based in El Salvador.”

Exor emphasizes that Juventus is a historic and successful club; the Agnelli family and Exor have been stable and proud shareholders for over a century. They remain fully committed to the club, supporting the new management team to execute clear strategies for on-field and off-field success. Exor CEO John Elkann explicitly stated, “Juventus, our history, and our values are not for sale.”

Despite Juventus facing financial pressures in recent years, with consecutive losses and multiple capital infusions, the Agnelli family evidently refuses to relinquish control of this Serie A powerhouse. Tether’s acquisition dream is thus dashed.

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Tags: cryptoExorJohn ElkannJuventusTether