James Richardson
Stablecoin issuer Tether’s €1.1 billion ($1.3 billion) bid to acquire Juventus was turned down in less than 24 hours after the club’s controlling shareholder reaffirmed its refusal to sell.
Exor, the holding company of Italy’s Agnelli family, issued a statement confirming that it has no plans to divest any portion of its Juventus stake, explicitly including offers from Tether.
Tether’s proposal, announced publicly on Friday, was a binding all-cash offer targeting Exor’s 65.4% controlling stake in Juventus.
The bid priced shares at €2.66 each, representing roughly a 21% premium to Juventus’s closing price of €2.19. This valuation placed the iconic football club at approximately €1.1 billion. Tether had also committed to injecting an additional €1 billion into the club’s long-term growth and development if the deal had moved forward.
Ardoino Emphasizes Personal Ties to Juventus
Following the announcement, Tether CEO Paolo Ardoino described the bid as deeply personal, citing a lifelong connection to the club.
He noted that Juventus played a formative role in his upbringing, shaping values such as discipline, resilience, and responsibility, and framed the acquisition attempt as more than a purely financial transaction.
Tether’s Growing Presence at Juventus
Tether is not a newcomer to the club’s ownership structure. The company acquired an initial minority stake in February, increasing its holdings to more than 10% by April.
As part of its engagement, Tether supported Dr. Francesco Garino as a candidate for the Juventus board. Garino was appointed in November, signaling Tether’s intent to influence the club’s strategic direction without immediate control.
A Setback in Tether’s Diversification Strategy
The failed acquisition represents a notable obstacle in Tether’s push to expand beyond stablecoins. Despite generating over $10 billion in net profits during the first nine months of 2025, the company has been aggressively allocating capital into new industries.
Recent investments span artificial intelligence, robotics, bitcoin mining, and advanced manufacturing. Just last week, Tether participated in a €70 million funding round for Italian humanoid robotics startup Generative Bionics.
Juventus Financial Pressures Persist
Juventus has faced ongoing financial strain, requiring more than €1 billion in capital injections over the past seven years to stabilize operations.
Even so, the Agnelli family remains unwilling to relinquish control, reinforcing its long-standing commitment to the club despite repeated recapitalizations.
Tether has not yet issued a public response following Exor’s rejection.
