Tether's €1.1 Billion Bid for Juventus Rejected by Controlling Shareholder Exor
Tether made a €1.1 billion all-cash takeover bid for Juventus, proposing to purchase Exor's 65.4% controlling stake for €2.66 per share, valuing the club at a 21% premium. However, Exor, which holds 65.4% of Juventus shares, stated it had no intention of selling to any third party, including Tether. Tether already owns an 11.53% stake in Juventus.
Following the rejection of the bid, Juventus' fan token JUV fell more than 13% from its intraday peak, dropping from about $0.85 to below $0.74. In contrast, Juventus' publicly listed shares rose about 14% to €2.50 after the bid news and Exor's rejection.
Tether operates USDT, the world's largest stablecoin by market capitalization. The crypto sector's involvement in sports sponsorships continues to grow, with soccer accounting for approximately 60% of $568 million in new sponsorships for 2024-2025, representing a 20% year-over-year increase.
