In a decisive move that confirms its commitment to its long-standing sporting heritage, Exor Holdings, the investment arm of the Agnelli family and owner of the Italian club Juventus, announced its firm rejection of the takeover bid submitted by Tether, a cryptocurrency company.
Details of the rejected offer and Exor's position
Exor issued an official statement on Saturday, explaining that its board of directors had unanimously rejected the offer it described as "undesirable" from Tether Investments. The offer aimed to purchase the family's controlling 65.4% stake in the club.
According to financial reports, the offer submitted by the Salvador-based company included an attractive price of €2.66 per share, representing a premium over Friday's closing price of €2.19 on the Milan Stock Exchange. This offer reflects a total valuation of the club at approximately €1.1 billion, with a commitment to inject an additional €1 billion in investment to bolster the club's finances.
A historical relationship that transcends investment
This refusal cannot be understood in isolation from the deep historical connection between the Agnelli family and Juventus. The relationship spans more than a century, specifically since 1923, making it the longest-standing family ownership of a sports club in the world. Exor's statement clearly underscored this point, emphasizing that the family "does not intend to sell any part or all of its shares to a third party," and reaffirming its full commitment to supporting the new management team in implementing strategies to put the club back on track.
Tether's ambitions in the world of sports
On the other hand, Tether's bid reflects the growing trend among fintech and cryptocurrency companies to invest in prestigious sports assets. The company had already successfully penetrated the club's ownership structure last February with an initial 8% stake, which later increased to 11.5%. This trend is spearheaded by the company's CEO, Paolo Ardoino, who previously stated that "Juventus has always been a part of his life," adding an emotional dimension to the investment attempt.
Current challenges and the future of "Bianconeri"
This offer comes at a critical transitional period for Italy's most decorated club (36 league titles and 15 cups). After years of absolute dominance, the team has suffered a decline in results and administrative and technical turmoil, including multiple changes in coaching staff, the latest being Luciano Spalletti taking over from Igor Tudor and Thiago Motta, amidst a difficult season in which the team fell out of contention early.
In addition to the sporting challenges, the club faces financial and legal hurdles, ranging from the fallout of the COVID-19 pandemic to the financial investigations that previously led to Andrea Agnelli's resignation. Despite reducing losses in the 2024-2025 season, they still amount to approximately €58 million, making the rejection of the massive takeover bid a strong message from the Agnelli family that the rebuilding project will be led by Italians and from within the Juventus family.
