Berliner Tageszeitung - Crypto firm Tether bids for Juventus, is quickly rebuffed

NYSE - LSE

SCS	0.12%	16.14	$
RBGPF	0%	81.17	$
CMSD	-0.65%	23.25	$
NGG	0.32%	74.93	$
BCC	0.33%	76.51	$
RELX	0.25%	40.38	$
JRI	-0.15%	13.7	$
GSK	-0.14%	48.81	$
RIO	-1.43%	75.66	$
CMSC	-0.56%	23.3	$
BCE	1.31%	23.71	$
BTI	-2.22%	57.1	$
RYCEF	-1.71%	14.6	$
AZN	-0.51%	89.83	$
VOD	0.4%	12.59	$
BP	-0.77%	35.26	$

Crypto firm Tether bids for Juventus, is quickly rebuffed

ECONOMY 12.12.2025

Crypto firm Tether bids for Juventus, is quickly rebuffed / Photo: © AFP

Cryptocurrency firm Tether said Friday it had submitted a bid to Juventus's main shareholder, Exor, to acquire its entire stake in the Turin football club -- but was quickly rebuffed.

Text size:

"Juventus is not for sale," said a source close to Exor, the holding company of the Agnelli family, which has controlled the club since 1923.

Tether, which already has an 11.5-percent stake in Juventus, said in a statement that it "has submitted a binding all cash proposal to Exor to acquire its entire stake".

Exor currently has a 65.4 percent stake in the club.

Tether offered 2.66 euros a share, valuing the company at 1.1 billion ($1.3 billion), according to the ANSA news agency.

Juventus shares closed at 2.19 euros Friday on the Milan stock market.

Amid rumours of a possible Saudi investment, Exor had earlier Friday insisted it had no intention of selling its shares.

And the source close to Exor stressed to AFP on Friday night that this remained the case, whether to Tether or anyone else.

Tether controls USDT, a popular stablecoin -- a cryptocurrency designed to hold a steady value by being pegged to traditional assets.

It has said it is guided by the goal to "Make Juventus Great Again", a play on US President Donald Trump's "Make America Great Again" slogan.

It acquired its first stake in Juventus in February, saying it was seeking to integrate its businesses -- which also include AI and biotech -- into the sports industry.

Last month, Juventus shareholders appointed Tether nominee Francesco Garino to the board of directors.

In the statement on Friday, its chief executive, Paolo Ardoino, said his company was prepared to invest one billion euros in developing the club.

"For me, Juventus has always been part of my life. I grew up with this team," he said.

He added: "Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon."

According to ANSA, the bid offer will automatically lapse if Exor does not send its written acceptance by 6:00 pm (1700 GMT) on December 22.

P.Grazvydas--BTZ

Featured

World stocks mostly slide, consolidating Fed-fuelled gains

Stock markets on both sides of the Atlantic pulled back Friday as profit-taking trimmed some of the gains seen after the Federal Reserve's interest rate cut this week.

Can Venezuela survive US targeting its oil tankers?

Venezuela has been sidestepping a US oil export embargo for years, selling crude at a discounted price mainly to China. But even this limited income stream is now under threat after the United States seized a Cuba-bound tanker.

World stocks retrench, consolidating Fed-fuelled gains

Stock markets on both sides of the Atlantic pulled back Friday as pre-weekend profit-taking pared some, but not all, of the gains seen after the Federal Reserve bank delivered a much-anticipated rate easing this week.

Iran frees child bride sentenced to death over husband's killing: activists

Iranian authorities have freed a woman who was condemned to hanging over the killing of her husband who she married while a child, in a case that sparked international concern over the plight of women sentenced to death in the Islamic republic, rights activists said on Friday.