Exor, the holding company of the renowned Italian football club Juventus, has unanimously rejected the acquisition offer made by Tether. Tether proposed to purchase Exor’s 65.4 percent controlling stake in Juventus at €2.66 per share, valuing the club at over one billion euros. Had the deal proceeded, Tether intended to launch a full tender offer for the remaining shares and invest an additional one billion euros to support the club’s growth. Exor’s CEO, John Elkann, stated, “Juventus, our history and our values, are not for sale.” The company clarified it has no plans to sell its Juventus shares to any third party. Since February, Tether has increased its stake in Juventus to over 10 percent and recently secured a board seat through its nominee, Francesco Garino.
Juventus, managed by Exor, is among the world’s most famous football clubs, renowned for its historical achievements and large fan base. Tether, a prominent cryptocurrency firm, has expanded its investments in the sports sector, particularly football, to strengthen its presence. Following the rejection of this offer, the ownership structure of Juventus is unlikely to see significant changes. However, the growing relationship between cryptocurrency and the sports industry may open further investment opportunities in the future. Attention will now focus on Juventus’ financial and sporting strategies to maintain the club’s global competitiveness.
Source: binance
