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Agnelli family firmly declines Tether’s €1 billion (over $1.17 billion) acquisition offer for Juventus, emphasizing club’s historical significance and independence.
Tether, the USDT stablecoin issuer headquartered in El Salvador, proposed an all-cash offer to purchase Exor’s 65.4% stake in Juventus, valuing the club at over €1 billion with a 21% share premium. Exor CEO John Elkann immediately rejected the proposal, stating “Juventus, our history and our values are not for sale” in a rare video address posted on the club’s website.
The crypto giant, led by Italian Paolo Ardoino, has already accumulated over 10% of Juventus shares and proposed investing €1 billion to support the club. Despite Juventus struggling financially and not achieving a net profit in nearly a decade, the Agnelli family remains committed to maintaining ownership of the 36-time Italian championship-winning team.
Read More: Tether Eyes Juventus Board Seat Amid Communication Breakdown
🧭 FAQs
• Who proposed to buy Juventus? Tether, a cryptocurrency company based in El Salvador.
• What was the proposed purchase price? Approximately €1 billion, offering 2.66 euros per share.
• Why did the Agnellis reject the offer? To preserve the club’s historical values and family legacy.
• What is Juventus’s current financial status? The club has not made an annual net profit in almost a decade.