Crypto Firm Tether Makes Bold $1 Billion Play for Juventus Football Club

Tether companies announced on Friday that it had submitted a binding cash offer Exora Netherlands-based global investment holding company, controlled by the Italian Agnelli family, to acquire its entire stake Juventus Football Club.

The proposal covers Exor’s 65.4% stake in Juventus, and Tether has offered an investment of €1 billion ($1.17 billion) if the takeover is completed.

Juventus A ‘part of my life’: CEO of Tether

El Salvador-based Tether (CRYPTO: USDT), best known for its USDT stablecoin, plans to finance the transaction with its own capital.

Paolo ArdoinoCEO of Tether, said: “For me, Juventus has always been a part of my life. I grew up with this team. As a boy, I learned what dedication, resilience and responsibility mean by seeing how Juventus faces success and adversity with dignity.”

Following the announcement, Juventus’ fan token, JUV, rose by 30%.

The club is one of Europe’s best-known football teams, and if this deal is completed it would be the first of its kind with a crypto company taking control of a major sports club.

According to a Bloomberg reportHowever, the Agnelli family has no intention of selling.

Additionally, Tether is seeking a $20 billion capital raise at a valuation of nearly $500 billion while weighing its equity tokenization.

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Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.