Crypto Firm Tether Moves to Take Over Italian Football Club Juventus
Tether has submitted a binding proposal to acquire Exor's 65.4% stake in Juventus FC through an all-cash offer, with plans to launch a public tender for the remaining shares at the same price if the deal closes. Juventus FC SpA's market capitalization was approximately $925 million as of Friday's close.
Tether currently holds more than a 10% stake in Juventus and has signaled intentions to take a more active role in the club. The company is prepared to invest $1 billion in Juventus if the transaction completes.
According to Tether CEO Paolo Ardoino, the move stems from admiration for the club. Ardoino noted that Tether is in strong financial health and has a long-term horizon to support Juventus with stable capital.
This bid coincides with Tether's expansion beyond crypto into fields such as AI, payments, robotics, and sports. The firm's flagship stablecoin, USDT, has a market capitalization reported around $186–$188 billion, with net profits exceeding $10 billion in the first nine months, largely generated from U.S. Treasuries backing USDT. Tether also holds about 116 tons of gold.
Following the announcement, the Juventus fan token JUV surged roughly 30%.
