cryptopotato.com
The company behind the world’s largest stablecoin has submitted a binding all-cash proposal to Exor, Juventus’ current owner, to buy its entire stake in the Italian club. Tether plans to make a public offer after receiving the necessary regulatory approvals for the remaining shares at the same price, fully funded with its own capital.
The statement from the company reads that Juventus has stood for “discipline, ambition, and the quiet strength of those who rebuild and move forward, season after season” for decades. It described the Italian football club as an icon that reshaped the local sporting identity and “earned the loyalty of supporters around the world.”
Tether CEO Paolo Ardoino reaffirmed his personal support for the team, indicating that Juventus has always been a part of his life, and added:
“I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.”
He doubled down that his company’s interest in Juventus “comes from deep admiration and respect” as it’s a symbol of “Italian excellence with a truly global presence, built over generations through hard work, ambition, and the unwavering loyalty of its supporters.”
The submitted proposal contemplates the acquisition of Exor’s shareholding, which currently represents 65.4% of the club’s issued share capital.
Should the transaction be approved by the regulators and Exor, Tether said it intends to invest a billion Euros “in the support and development of the club.” Recall that the company made its first steps into the Juventus ecosystem in February this year after acquiring a minority stake.