Tether has submitted a binding offer to acquire Exor's 65.4% stake in Juventus Football Club, the most successful club in Italian football history and 36-time Serie A champions, for all cash.
Tether announced that it will proceed with a public buyback offer for the remaining shares at the same price, subject to approval from regulators and consent from Exor. It was stated that the funds will be entirely raised from its own capital. Tether has committed to investing up to €1 billion to support and develop the club after the transaction is completed.
Juventus contract…what it means for Tether
Announced on December 12, 2023, this proposal is one of the boldest moves for a cryptocurrency company to enter the global top-tier sports market. Through this acquisition, Tether is seen as attempting strategic changes as a long-term investor in traditional institutions, going beyond being a mere stablecoin issuer.
Tether's CEO Paolo Ardoino described Juventus as a "symbol of discipline, resilience, and sustainability" in the announcement. He emphasized that these values align with how Tether was built.
From a business perspective, this acquisition allows Tether to secure control over a globally recognized sports brand, providing an opportunity to expand its activities from financial infrastructure to media, entertainment, and the global fan economy.
Unlike short-term sponsorships or fan token partnerships, the acquisition of the club positions Tether at the center of governance and long-term strategy.
This move demonstrates that Tether operates on a sound financial structure and can inject billions of dollars without external funding.
Part of the expansion strategy
The announcement of the Juventus acquisition proposal comes after several notable moves by Tether and USDT.
Recently, Tether received regulatory approval for USDT as a fiat-backed token recognized in Abu Dhabi ADGM, formalizing the use of stablecoins across multiple blockchains.
At the same time, Tether is also considering tokenizing its own equity, showing openness to a blockchain-based new corporate structure.
Beyond finance, Tether has also ventured into AI, robotics, and privacy-focused consumer technology, investing in robotics companies and launching privacy-centric health and AI products.
This movement shows Tether's strategy to expand its business into various fields beyond stablecoin issuance.
Juventus, not the first connection with cryptocurrency
Juventus has a deep connection with cryptocurrency.
Juventus previously launched the JUV fan token on the Chiliz and Socios platforms, allowing fans to directly participate in voting and events. In the recent season, they have formed various partnerships with cryptocurrency companies, including a sponsorship deal with a cryptocurrency exchange.
However, Tether's proposal goes far beyond existing cryptocurrency partnerships. If the transaction is successful, it will be the first case where a digital asset company gains actual management rights over a prestigious club like Juventus.
This transaction is subject to the agreement of Exor and the signing of final legal contracts, as well as the approval of regulatory authorities. If all conditions are met, Tether plans to pursue a public buyout of the remaining shares.
