Stablecoin issuer Tether proposed last week to acquire the Italian professional football club Juventus Football Club for over 1 billion USD, but was rejected by its owner Exor.
Exor, the holding company of the Agnelli family that has owned Juventus for over a century, stated on Saturday that its board 'unanimously rejected' Tether's unsolicited proposal to acquire all shares of the publicly listed football club.
Exor stated:
'Exor reiterates its previous consistent position: it has no intention of selling any Juventus shares it holds to third parties, including but not limited to Tether based in El Salvador.'
The USDT issued by Tether is currently the largest stablecoin, with a market cap reaching 186.1 billion dollars and a market share of 60%. Last Friday, Tether stated that it has submitted a binding all-cash proposal to Exor to acquire its 65.4% controlling stake. If Exor agrees, Tether will also "launch a public offer for the remaining shares at the same price."
According to Reuters, Tether's offer is 2.66 euros per share (approximately 3.12 dollars), which would value Juventus slightly above 1 billion euros (1.17 billion dollars). Based on Friday's closing price of 2.19 euros, Juventus's market value is 944 million euros (approximately 1 billion dollars).
Exor CEO: "Our values are not for sale"
Exor CEO John Elkann stated in a video released on the club's official website on Saturday that Juventus "has been a part of our family for 102 years," and that "Juventus, our history, and our values are not for sale."
Exor stated in a statement that the company and the Agnelli family "are still fully committed to the club" and support the new management team in implementing a clear strategy to deliver strong results both on and off the field.
John Elkann: “La Juventus, la nostra storia, i nostri valori non sono in vendita” pic.twitter.com/K7ORlLF5Ds
— JuventusFC (@juventusfc) December 13, 2025
Tether stated in the proposal that if the transaction is completed, it will prepare to invest an additional 1 billion euros to support Juventus's development. Tether CEO Paolo Ardoino said, "For me, Juventus has always been a part of my life; I grew up following this team." He stated that Tether's "financial condition is very sound" and intends to support Juventus with "stable capital and a long-term perspective."
Before making the acquisition proposal, Tether purchased a portion of Juventus's shares in February and increased its stake to over 10% in April. After Juventus shareholders approved Tether's nomination of Francesco Garino to the board last month, Tether's influence in the club has further increased. The company previously also nominated its vice investment director Zachary Lyons but was unsuccessful.
Source Reference
Source
