Tribal Football

Crypto group Tether bids to buy out Agnelli family and take control of Juventus

A Juventus flag
A Juventus flagAlessandro Garofalo / Reuters

Crypto group Tether said on Friday it has submitted ‍an all-cash proposal to the holding company of the Agnelli family to buy its entire ​stake in Italy's most historically successful club Juventus.

Tether, the issuer of a US dollar-referenced stablecoin dubbed ‌USDT, has already built a stake of more ‌than 10% in the club this year, becoming its second-largest shareholder after the Agnelli family's holding company Exor.

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Its proposal contemplates the acquisition of Exor's shareholding ⁠in Juventus, representing 65.4% of the total share capital, Tether ‌said in a press release without disclosing the price ​at which it would buy the shares.

The crypto group intends to invest 1 billion ‍euros to support the club if the acquisition is completed, it said.

Juventus declined to comment ‍on the offer.

Exor ‌CEO John Elkann said in November that the Agnelli family had no intention of selling shares in Juventus. The family's ties with the Turin-based club ⁠date back to 1923 when Edoardo Agnelli became chair.

The group's CEO Paolo Ardoino is an Italian national and a Juventus supporter.


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