- Tether made a €1.1 billion all-cash bid for control of Juventus, offering a 21% premium and pledging a further €1 billion in funding.
- Exor and the Agnelli family unanimously rejected the proposal, insisting the club is not for sale.
- The standoff comes as Juventus faces prolonged sporting and financial struggles despite its historic status.
Tether’s attempted takeover of Juventus has been dismissed by the Agnelli family, setting up a high-profile clash between a rapidly expanding crypto business and one of Italy’s most established industrial lineages.
The crypto firm submitted an all-cash proposal to the family’s holding company, Exor, seeking to acquire its 65.4% controlling stake in Juventus at a price of €2.66 (AU$4.70) per share, valuing the club at around €1.1 billion (AU$1.94). According to reports, the offer represented a premium of roughly 21% over Juventus’ market price at the close of trading on Friday.
Tether also pledged an additional €1 billion (AU$1.77) in future investment and indicated that it would pursue a public tender offer for the remaining shares at the same valuation if the deal proceeded.
Exor rejected the bid unanimously, stating that it had no intention of selling Juventus to Tether or to any other potential buyer.
Exor chief executive John Elkann underlined the family’s attachment to the club, stating: “Juventus, our history and our values are not for sale,” while reaffirming long-term support for the team and its management.
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Mounting Sporting Challenges
Juventus has endured a prolonged period of difficulty in recent seasons, failing to recapture the dominance of its nine consecutive Serie A titles that concluded in 2020 and currently sitting seventh in the league table.
The club’s financial position has weakened, posting no annual net profit for almost a decade and its share price has gone down 27% so far this year. These pressures have been compounded by off-field setbacks, including a 10-point deduction imposed in 2023 following an investigation into the accounting treatment of player transfers.
Tether has steadily built its presence at Juventus, accumulating more than a 10% stake during 2025 and becoming the club’s second-largest shareholder behind Exor.
Founded in 2014, Tether issues the USDT stablecoin and reported profits exceeding US$10 billion (AU$15.4 billion) in the first nine months of 2025, supported by reserves of approximately US$181 billion (AU$279 billion).
Despite the financial scale of Tether’s proposal, Exor’s response signals that Juventus remains a cultural and symbolic asset for the Agnelli family, outweighing the immediate appeal of a premium cash offer.
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