Exor rejects Tether’s bid to buy Juventus

Tether offered to buy Exor’s 65.4% controlling stake and pledged to make a public offer to remaining shareholders on the same terms. Market data indicates an offer price of €2.66 per share, valuing Juventus at more than €1 billion. The club’s market cap at the time was roughly €944 million.

Exor said it has no intention of selling any Juventus shares to third parties. In a video address, CEO John Elkann stressed that the club is part of his family’s heritage: “Juventus, our history, and our values are not for sale.”

Exor said the company and the Agnelli family remain fully committed to supporting the club and will continue working with the new management team to pursue long-term stability on and off the field.

Tether said it was ready to invest up to €1 billion in the club if a deal were completed. CEO Paolo Ardoino noted that Juventus has been part of his life since childhood and described Tether as a “financially strong organization” capable of providing stable capital and long-term support.

Tether has been increasing its involvement with Juventus in recent months. It first acquired a stake in February and expanded it to more than 10% by April. Shareholders recently approved Tether’s nominee, Francesco Garrino, for a board seat, strengthening the issuer’s influence over governance.

Its attempt to add a second representative — deputy investment director Zachary Lyons — was unsuccessful.

Tether’s effort to acquire Juventus is one of its most prominent moves to expand beyond the crypto sector. Exor’s rejection effectively closes the door on a deal, at least for now.