Tether‘s dream of becoming the sole owner of Juventus has hit a wall. The holding company Exor, controlled by the Agnelli family and the majority shareholder of the Turin club, unanimously rejected the firm offer from the stablecoin giant to buy its 65.4% stake. The response was clear: Exor has ‘no intention of selling’ its shares, including to Tether.
The offer, entirely in cash, had been made public by Tether the day before. The issuer of USDT, already present in the club’s capital, was willing to invest an additional billion dollars to support Juventus’s sport and commercial development. An ambition now abruptly halted.
An Assumed Offensive by Tether in European Football
Tether was not showing its first interest signal. The group already holds about 10% to 11.5% of Juventus’s shares, making it the second largest shareholder behind Exor. For several months, Paolo Ardoino and his team have shown their desire to play a more active role in the club’s governance, beyond mere financial investment.
In its initial statement, Tether mentioned its “deep respect” for Juventus’s history and its desire to accompany a new phase of growth. A strategy consistent with the group’s all-around expansion, already very present in emerging markets, sports, and institutional partnerships.
But for Exor, there is a clear line. The holding company described the offer as “unsolicited” and reiterated the historical commitment of the Agnelli family, shareholders of the club for over a century.
A Club Under Chronic Financial Pressure
This takeover attempt comes at a financially strained time for Juventus. The club has been facing losses and has required over a billion euros in capital injections over the past seven years. With sporting sanctions, revenue decreases, and managerial restructuring, the Old Lady is still in a phase of recovery.
It is precisely this weakened ground that made Tether’s offensive credible. With a market capitalization of around 988 million dollars, Juventus remains an iconic asset but financially exposed. The arrival of a player with massive cash reserves and quick investing capabilities could appeal to some observers. Not the Agnelli family.
Markets and Tokens React, without Sustained Confirmation
Tether’s initial announcement triggered a surge in the JUV token, linked to the club, with a rise of over 32% in 24 hours. At this stage, the market has not fully absorbed Exor’s official rejection yet. On the stock side, the reaction remained measured: Juventus’s share fell by 0.9% in the last session, to 2.19 euros.
For Tether, this refusal does not close all doors. The group remains a key shareholder and may seek to influence the club’s strategy in other ways. But one thing is clear: Juventus will not change ownership, at least not under the impetus of crypto, and certainly not without the agreement of the Agnelli family.
