Tether, a well-known stablecoin company, has faced rejection from Exor, the majority shareholder of the Italian football club Juventus, regarding its acquisition offer. Currently, Tether holds approximately 10 percent of Juventus shares. The company had proposed a full cash offer to purchase the Agnelli family’s 65.4 percent stake to gain complete control of the renowned football club. Juventus, one of Europe’s largest and most prestigious football clubs, features a team of globally recognized players and competes in major football leagues. The club’s administrative control and majority ownership rest with the Agnelli family, an influential Italian business dynasty long involved in the club’s affairs. Exor, the Agnelli family’s investment company, declined Tether’s offer, signaling caution toward any change in the club’s ownership structure. This bid exemplified the increasing intersection between the cryptocurrency sector and the sports industry, where crypto firms are investing in sports teams to enhance brand value and access new markets. Following the rejection, Tether will need to consider maintaining its current stake in Juventus or explore alternative strategies. The ownership situation may impact the club’s future financial and administrative policies, especially given the volatility of the cryptocurrency market. Although no other major shareholder has emerged, this event could spark further discussions about ownership changes in football clubs.
Source: coindesk
