Key Insights
- Tether submitted a cash bid for Juventus, but Exor rejected the offer
- The stablecoin issuer plans a major investment in Juventus while building board influence.
- Tether’s profit growth and potential capital raise indicate a growing influence in global digital markets.
Crypto stablecoin issuer Tether has made a bid to acquire full control of Italian football club Juventus, submitting a binding all-cash proposal that has already met resistance from the club’s long time owner.
Tether stated on Friday that it offered to purchase Exor’s 65.4% controlling stake in Juventus. Exor, the Agnelli family holding company, has owned the Turin-based club for more than a century. Juventus is valued at about €944 million ($1.1 billion). Following news of the bid, Juventus shares rose 2.3% to €2.23 ($2.62).
https://twitter.com/Tether_to/status/1999569290949746942
The company said it would extend the same offer to the remaining shareholders through a public tender if the controlling stake were to change hands.
Exor rejects the offer as its stance on ownership hardens.
Despite the rejection, Tether stated it was prepared to invest up to €1 billion ($1.1 billion) into Juventus if the deal were completed. The funds were intended to support the club’s development and long-term stability.
Tether stated that completion of the deal would include a commitment of €1 billion ($1.1 billion) for Juventus’s long-term support and development. Chief executive Paolo Ardoino said the company has the financial strength to provide stable funding and take a long-term view toward the club’s future.
Moreover, Juventus has not issued a separate statement beyond the reported response attributed to Exor.
Growing influence follows steady stake build-up.
Tether’s interest in Juventus did not come about suddenly. The company began building a position earlier this year, quietly acquiring shares in February before increasing its holding to more than 10% in April.
In October, Tether nominated Deputy Investment Chief Zachary Lyons and Francesco Garino to Juventus’ board. Shareholders approved Garino’s appointment last month, strengthening Tether’s influence within the club’s leadership structure.
The move into football comes as Tether expands beyond stablecoins. Over the past year, the firm has deployed capital into artificial intelligence, robotics, and health technology. USDT, its flagship stablecoin, carries a circulating supply of $118 billion.
Financial Scale and Market Position
Tether is on track to generate about $15 billion in profit this year. Bitwise Chief Investment Officer Matt Hougan recently stated that the company could become the world’s most profitable firm, potentially surpassing Saudi Aramco.
USDT ranks as the third-largest digital asset by market capitalization, at $183.8 billion, a 50% increase from a year earlier. Reports also indicate that Tether may seek $20 billion for a 3% equity stake, which would bring its valuation near $500 billion.
Reports also indicate Tether may seek $20 billion for a 3% equity stake. Such a transaction would place its valuation near $500 billion, exceeding Netflix and Samsung and approaching major global payments firms like Mastercard.
