The failed bid marks a setback for Tether's diversification strategy beyond its core stablecoin business.
Crypto News
Stablecoin giant Tether's $1.3 billion offer to buy Italian football club Juventus was rejected within 24 hours after Italy's Agnelli family reaffirmed their commitment not to sell any part of the team through their holding company Exor. The board said it has no intention of selling any shares in Juventus to a third party, including but not restricted to El Salvador-based Tether.
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, representing a roughly 21% premium to Juventus's Friday closing price of €2.19. The offer valued the club at approximately €1.1 billion, with Tether pledging to invest an additional €1 billion in the club's development if the acquisition was approved.
Tether CEO Paolo Ardoino said in a statement that Juventus has always been part of his life. “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,” he stated.
Tether first purchased a minority stake in the football club in February, increasing it to over 10% in April. Ardoino said at the time the partnership would help Tether explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape, while the company also backed Dr. Francesco Garino, who joined in November, as a candidate for the Juventus board
The failed bid marks a setback for Tether's diversification strategy beyond its core stablecoin business. The company reported net profits exceeding $10 billion in the first nine months of 2025 and has been aggressively investing in artificial intelligence, robotics, Bitcoin mining, and other sectors.
Tether joined a €70 million funding round for Italian humanoid robotics startup Generative Bionics last week. Though the stablecoin issuer has made many investments with billions of dollars of profit from issuing USDT, this could have ranked as the highest-profile move in the organization's history.
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 of the club they have owned for decades through their Fiat automobile empire holdings.
Juventus has partnerships with major brands including sportswear giant Adidas, Jeep, and insurance firm Allianz. The club remains one of Italy's most successful football teams despite recent on-field struggles and financial pressures that have required repeated capital infusions from the controlling family.
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