Italy’s Agnelli family reaffirms commitment to retain controlling stake despite stablecoin giant’s offer
Tether’s all cash $1.3 billion bid to acquire Juventus football club has been unanimously rejected by Exor, the holding company of the Agnelli family. Exor confirmed it has no intention of selling any of its shares, maintaining control over the club and rejecting the El Salvador based stablecoin company’s proposal.
The offer valued Juventus at roughly €1.1 billion, representing a 21% premium over the closing share price, and included a pledge by Tether to invest an additional €1 billion in club development if the acquisition succeeded. Despite this, Exor emphasized its long-standing commitment to Juventus and its shareholders, signaling continuity in governance and operations.
Tether, which owns over 10% of Juventus, had been pursuing a strategy to diversify beyond its core stablecoin business into sectors including artificial intelligence, robotics, and bitcoin mining. CEO Paolo Ardoino, a lifelong Juventus fan, framed the acquisition as a chance to explore innovative collaborations in sports. The company also secured a board seat through Dr. Francesco Garino in November.
Juventus has historically faced financial challenges, requiring substantial capital injections, yet the Agnelli family has maintained its controlling position. The failed Tether bid represents a setback for the stablecoin firm’s ambition to expand into global sports and other non-crypto industries, keeping the club firmly under family ownership.
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