Exor unanimously rejects Tether's $1.3 billion bid to acquire Juventus football club

Stablecoin giant Tether's $1.3 billion offer to buy Italian football club Juventus was rejected within just 24 hours after Italy's Agnelli family, through their holding company Exor, reaffirmed their commitment not to sell any part of the team. 

"Exor reaffirms its previous, consistent statements that it has no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether," the Exor board said in a statement.  

The rejection came swiftly after Tether publicly announced its binding all-cash bid on Friday, offering €2.66 per share for Exor's 65.4% controlling stake—a roughly 21% premium to Juventus's Friday closing price of €2.19. The offer valued the club at approximately €1.1 billion ($1.3 billion). As The Block previously reported, Tether had pledged to invest an additional €1 billion in the club's development if the acquisition was approved. 

“For me, Juventus has always been part of my life,” Tether CEO Paolo Ardoino said in a statement at the time. “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."

Tether first purchased a minority stake in the football club in February, increasing it to over 10% in April. Ardoino said the partnership would help Tether "explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape" in a statement at the time. Tether also backed Dr. Francesco Garino as a candidate for the Juventus board; he joined the board in November. 

The failed bid marks a setback for Tether's diversification strategy beyond its core stablecoin business. The company, which reported net profits exceeding $10 billion in the first nine months of 2025, has been aggressively investing in artificial intelligence, robotics, bitcoin mining, and other sectors. Just last week, Tether joined a €70 million funding round for Italian humanoid robotics startup Generative Bionics.

Juventus has faced recurring financial challenges in recent years, requiring more than €1 billion in capital injections over the past seven years. Despite these difficulties, the Agnelli family has shown no willingness to cede control. Tether did not immediately respond to a request for comment from The Block.