Tether Submits Proposal to Acquire Juventus Football Club

• Tether makes binding all-cash offer for Exor’s 65.4% stake in Juventus FC ownership.
• The deal values Juventus at nearly €1.1B and includes a public tender for the remaining shares.
• Tether pledges up to €1B investment as Exor resists sale and reviews bid terms internally.

Tether submitted an all-cash proposal on Friday to acquire control of Juventus Football Club. The offer targets Exor’s 65.4% stake and includes a planned public tender, pending approvals. Tether CEO Paolo Ardoino confirmed the bid, citing long-term investment plans and readiness to inject up to €1 billion into the club’s development.

Tether Moves to Take Control of Juventus

The stablecoin issuer said it delivered a binding proposal to Exor, the Agnelli family holding company. Exor has controlled Juventus since 1923 through its listed investment structure. According to Tether, the proposal covers Exor’s full 65.4 percent shareholding.

The offer values Juventus at about €1.1 billion, based on a reported price of €2.66 per share. Juventus shares closed Friday at €2.19 on the Milan stock exchange. According to ANSA, the offer lapses if Exor does not accept by December 22.

Tether stated that following a successful transaction, it would launch a public tender for the remaining shares. The company said it would fund the acquisition entirely with its own capital. Juventus currently trades publicly on Borsa Italiana, with a market capitalization of nearly $925 million.

However, Exor signaled resistance soon after the announcement. A source close to the holding company told AFP that Juventus is not for sale. Exor also reiterated earlier statements denying any intention to divest, including amid separate market speculation.

Investment Pledge and Existing Juventus Stake

Tether already holds more than 10% of Juventus following incremental purchases earlier this year. In February, the company disclosed an initial minority investment. Notably, it increased ownership and secured board representation by nominating Francesco Garino.

Tether described their funding as support for sporting operations, infrastructure, and long-term stability. No detailed spending breakdown accompanied the pledge.

Paolo Ardoino emphasized his personal ties to the club in the statement. He said he grew up supporting Juventus and credits the club with shaping personal values. Ardoino also stated that Tether seeks stable ownership rather than short-term financial returns.

Juventus maintains significant commercial partnerships with Adidas, Jeep, and Allianz. These relationships remain in place regardless of ownership discussions. The club continues to represent one of Serie A’s most prominent global brands.

Related: Tether Targets Juventus Board as Croatia Unveils Fan Tokens 

Tether’s Financial Position and Broader Context

The proposal arrives as Tether reports strong profitability from USDT issuance. The company generated over $10 billion in profits during the first nine months of the year. Revenue largely came from yields on U.S. Treasury bills backing USDT reserves.

Tether continues to face scrutiny over transparency and reserves. Industry observers have questioned solvency in the past. CoinShares has stated that the company does not appear financially weak based on available disclosures.

The Juventus bid also affected digital markets. The club’s fan token, JUV, rose roughly 30% after the announcement.  The offer remains subject to regulatory approvals in Italy and Europe. 

Authorities would review ownership suitability and financial disclosures. The process timeline is unclear. Tether confirmed that it will provide updates in accordance with applicable laws. For now, the proposal stands as submitted, awaiting Exor’s formal response.

Meanwhile, Tether has submitted a binding offer for Exor’s stake in Juventus and outlined a full takeover path. The proposal includes an all-cash structure, a public tender, and a €1 billion investment pledge. While Exor has pushed back, the bid is notable for linking crypto capital with traditional football ownership.