Agnelli Family Rejects Tether’s $1.3B Bid for Juventus Within 24 Hours
Why Did Exor Reject Tether’s Takeover Bid?
Italy’s Agnelli family has rejected Tether’s $1.3 billion all-cash offer to acquire Juventus, shutting down the stablecoin issuer’s attempt to take control of one of Europe’s most storied football clubs. Exor, the family’s holding company, said it has “no intention of selling any of its shares,” ending the bid less than 24 hours after it became public.
The offer, announced Friday, priced Juventus at €2.66 per share — a roughly 21% premium to the club’s closing price of €2.19. The proposal covered Exor’s 65.4% controlling stake and valued the club at €1.1 billion. As previously reported, Tether had pledged an additional €1 billion in club development funds if the sale went through.
In its formal response, Exor said: “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 quick rejection halts one of Tether’s boldest attempts to push into top-tier European sports ownership — a move that would have positioned the stablecoin issuer inside one of the world’s most recognizable football brands.
Investor Takeaway
Exor’s stance shuts down Tether’s most ambitious acquisition attempt to date and highlights the limits of crypto-backed bids for legacy sports assets, even with large cash reserves.
What Was Tether’s Strategy Behind the Juventus Bid?
Tether has been working to expand beyond its core stablecoin business after reporting more than $10 billion in net profits during the first nine months of 2025. Those profits have backed a wave of investments in AI, robotics, bitcoin mining, and other emerging sectors. The Juventus offer fit into this wider push, alongside its minority share purchases earlier this year.
Tether first acquired a small holding in the club in February before raising it above 10% in April. At the time, CEO Paolo Ardoino said the partnership would allow Tether to “explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.” The firm also supported Dr. Francesco Garino’s candidacy for the Juventus board; he joined the board in November.
Ardoino’s personal ties to the club played a role in the attempted acquisition. “For me, Juventus has always been part of my life,” he said. “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.”
The all-cash bid would have made Tether one of the most prominent crypto-linked owners in global sports, placing the company at the center of a club that has faced financial pressure and leadership turbulence over the past decade.
What Financial Pressures Surround Juventus?
Juventus has required more than €1 billion in capital injections over the past seven years as the club managed rising operating costs, on-field rebuilds, and regulatory investigations. Despite the strain, the Agnelli family has continued to hold firm control and resisted calls to dilute ownership.
The club’s valuation has fluctuated in public markets, but the €2.66 per-share offer represented one of the highest premiums proposed in recent years. Still, Exor maintained that financial terms had little impact on its decision.
By rejecting Tether’s offer outright, Exor reinforced a long-standing pattern: interest from outside investors — even those offering substantial capital — has not loosened the family’s grip on the club.
Investor Takeaway
Tether’s setback shows that deep liquidity from crypto profits does not guarantee access to legacy assets. Family-controlled European clubs often remain closed to outside buyers regardless of valuation.
What Comes Next for Tether After the Failed Bid?
The collapsed takeover attempt raises questions about where Tether directs its capital next. The company has been spreading investments across non-crypto sectors, most recently joining a €70 million round for humanoid robotics startup Generative Bionics. Its aggressive expansion streak shows no sign of slowing even as the Juventus deal falls away.
Tether did not respond to a request for comment from The Block. Without Exor’s support, the Juventus bid appears closed — leaving Tether to continue deploying capital in other industries or explore new partnerships within sports that do not require majority control.
For Juventus, Exor’s position ends speculation around a potential ownership change. For Tether, the rejection highlights the limits of diversification through headline-driven acquisitions, even with the liquidity to pursue deals of this size.