Tether submits proposal to acquire Juventus Football Club stake

Tether submitted a binding all-cash proposal to acquire Exor's entire 65.4% stake in Juventus Football Club, according to a company statement. The cryptocurrency company plans to make a public offer for the remaining shares at the same price following regulatory approvals.

The proposal covers Exor's shareholding representing 65.4% of Juventus' issued share capital. Completion requires Exor's acceptance, definitive documentation execution, and regulatory approvals.

"For me, Juventus has always been part of my life," said Paolo Ardoino, CEO of Tether. "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."

Tether stated it would invest €1 billion in the club's support and development if the transaction completes. The company said it operates with a long-term investment philosophy supported by a strong balance sheet.

Juventus shares trade on the Italian stock exchange under the ticker JUVE. The Italian football club has faced financial challenges in recent years, including penalties related to financial reporting irregularities.

Tether, known for issuing the USDT stablecoin, described the proposal as reflecting its belief in Juventus as more than a football club. The company emphasized its intention to support the club with stable capital and contribute to its sustainable growth.

The transaction would represent one of the largest acquisitions in European football if completed. Further updates will be provided in accordance with applicable laws and regulations, Tether stated.

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