Tether’s ambitious foray into European football has met a swift and decisive setback. The stablecoin issuer had proposed a whopping $1.3 billion all-cash offer to acquire Exor’s controlling 65.4% stake in the Italian soccer powerhouse, Juventus. However, within a mere 24 hours of publicizing the bid, Exor’s board of directors firmly rejected the offer, indicating that they have no intention of parting with their shares in the club.
In an official statement, Exor made it clear that the firm had no interest in selling any of its shares to third parties, specifically mentioning the Tether proposal as not aligning with their strategic vision. For the Agnelli family, which has maintained a steadfast grip on Juventus for over a hundred years, this marked a critical stance on safeguarding their long-standing legacy.
Tether’s bid was priced at €2.66 per share, reflecting a 21% premium over the club’s closing price of €2.19 just before the offer. This move aimed to evaluate Juventus at approximately €1.1 billion, or $1.3 billion. Despite the attractive valuation, Exor’s rebuttal underscores the complexities involved in merging traditional sports culture with the rapidly evolving landscape of cryptocurrency investments.
Prior to this attempt, Tether had already established a foothold in Juventus, purchasing an 11.53% stake since first investing in February 2025 and demonstrating strong commitment to the club’s financial recovery. The company also pledged an additional €1 billion investment aimed at bolstering Juventus’s infrastructure and operations, contingent on the successful acquisition going through.
Paolo Ardoino, Tether’s CEO and a devoted Juventus supporter, remarked on the club’s significance in his life, stressing the emotional connection behind the acquisition bid. However, the rejection has put a wrench in Tether’s plans to expand its influence beyond stablecoin issuance, particularly as Juventus grapples with ongoing financial struggles.
Over the past seven years, Juventus has required over €1 billion in capital injections, largely from the Agnelli family’s Exor. This financial dependence highlights the club’s precarious situation following numerous disappointing seasons that have resulted in recurring losses. Juventus shares saw a slight drop of 0.9% to €2.19 recently, pushing its total market valuation to approximately $988 million.
Interestingly, following Tether’s bid announcement, the JUV token associated with the club surged by more than 32%, trading at $0.83, reflecting a speculative optimism around potential changes in club management.
Tether’s impressive financial performance in 2025, reporting net profits exceeding $10 billion in the first nine months, positioned the firm as a major player in crypto-related ventures beyond its stablecoin business. Just last week, the company participated in a €70 million funding round for the Italian humanoid robotics startup Generative Bionics, illustrating their broadening investment horizon.
The outcome of this attempted acquisition is emblematic of a wider tension as traditional entities like Exor brace against disruptive forces from the rapidly maturing world of cryptocurrency. Tether’s ambition to diversify its portfolio and gain a foothold in the world of sports could face further hurdles, especially when the storied establishment of Juventus remains resolutely committed to its legacy.
