The stablecoin giant Tether has made an ambitious move into traditional sports by proposing a €1.1 billion acquisition of Italian football powerhouse Juventus. However, the offer was swiftly rejected by Exor, the holding company of the Agnelli family, which controls the club.
According to reports, Tether offered to buy Exor’s 65.4% stake in Juventus at €2.66 per share in an all-cash deal, valuing the club at €1.1 billion. The company also expressed intentions to acquire the remaining shares at the same price upon regulatory approval.
The proposal was met with a firm refusal. Exor issued a statement over the weekend, saying it had "unanimously rejected an unsolicited proposal from Tether Investments" and emphasized it had "no intention to sell any stake in Juventus to third parties."
**Premium Bid Details** Tether’s offer represented a significant premium for Juventus. The club’s shares closed at €2.19 on Friday in Milan, giving it a market cap just under €925 million. The €2.66-per-share bid pushed the valuation to €1.1 billion.
This was not Tether’s first interest in Juventus. The company had quietly built an 11.5% stake in the club through secondary market purchases in 2025. The direct bid to the majority shareholder signaled a shift from financial investment to strategic control.
Tether CEO Paolo Ardoino said, "Juventus has always been part of my life," adding, "I grew up watching this team. As a boy, I learned about commitment, resilience, and responsibility by seeing how Juventus handled success and adversity with dignity."
**Agnelli Family’s Firm Rejection** The Agnelli family, through Exor, delivered a cold response to Tether’s overtures. The statement was unequivocal, ruling out any sale of its century-long-held stake.
The Agnellis have deep ties with Juventus, controlling the Turin-based club since 1923. Despite its 2001 listing on the Milan stock exchange, Exor has maintained absolute control.
Sources close to Exor CEO John Elkann revealed that despite recent turbulence, the family remains "committed to turning the club around." They stressed Elkann has no plans to divest Juventus or other key Italian assets.
**Tether’s Financial Strength** As the world’s largest stablecoin issuer, Tether’s dollar-pegged USDT has reached around $185 billion in circulation. Its primary revenue comes from interest on U.S. Treasuries backing the tokens.
Financial reports show Tether generated $10 billion in profit in the first nine months of 2025, with full-year earnings expected at $15 billion. The company is deploying these profits into early-stage tech startups and media ventures.
Additionally, Tether is raising $15–20 billion at a $500 billion valuation, with plans to expand in the U.S. market.
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