Tether’s Juventus Purchase Bid Rejected by Exor

Tether has reportedly made a €1 billion bid for Juventus, targeting Exor’s 65.4% stake, which was unanimously rejected by Exor, the club’s longstanding owner.

The rejection highlights Exor’s commitment to Juventus, amid speculative market movements and potential impacts on crypto-financed sports acquisitions.

Tether recently offered €1 billion to buy a 65.4% stake in Juventus, which Exor has unanimously rejected, reaffirming its ownership.

The bid highlights ongoing interest in integrating cryptocurrency with traditional sports, yet reflects stern resistance from Juventus’ current owner.

Exor Rejects Tether’s €1 Billion Juventus Bid

The offer by Tether attempted to acquire a controlling stake in Juventus Football Club. Despite its size, the bid was rejected unanimously by Exor’s board, maintaining its historic ties with Juventus. Exor, the Agnelli family’s holding company, has owned Juventus since 1923. The decision to refuse Tether’s bid underscores the club’s personal and historic value to the company.

Juventus Shares Climb 2.3% Post-Bid

Following the bid, Juventus shares rose by 2.3%, indicating a positive market reaction to the proposed—though unaccepted—acquisition. The financial context surrounding the bid was significant given the overall valuation. Analysts speculate that Tether’s presence strengthens cryptocurrency’s ties with traditional industries. The quick rejection shows potential cultural resistance within longstanding organizational structures.

Cryptocurrency Encounters Sporting Industry Resistance

Historically, cryptocurrency firms have pursued sporting investments but without success in direct acquisitions of legacy sports clubs like Juventus. The bid’s rejection aligns with Exor’s consistent refusal to sell its stake in such prestigious entities. “Exor issued a statement indicating their board ‘unanimously rejected an unsolicited proposal… reiterates… no intention of selling any of its Juventus shares to third parties, including… Tether.'” despite strong offers reflecting growing interest from crypto firms in sports. Future developments may hinge on financial market trends and regulatory considerations globally.