The Agnelli family has dismissed a takeover proposal from Tether, the world’s largest stablecoin issuer, choosing to keep control of their century-old football club Juventus. The proposal, worth just over €1 billion ($1.17 billion), was rejected unanimously by the family’s holding company Exor, according to a statement released on Saturday and reported by Reuters.
Exor board unanimously rejects offer
Exor’s board said it had “no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether.” The statement reinforced the family’s commitment to remain long-term owners of Italy’s most decorated football club.
Tether had offered €2.66 per share for Exor’s 65.4% controlling stake in Juventus, representing a 21% premium over the club’s closing share price of €2.19 on Friday. The bid valued Juventus at just over €1 billion, and Tether also pledged to invest an additional €1 billion into the club’s growth.
Tether Submits Proposal to Acquire Juventus Football Club 🦓
— Tether (@Tether_to) December 12, 2025
Read more: https://t.co/CDv8OosqFU
Exor’s rejection of the offer follows a difficult few seasons for Juventus. The club has not turned a net profit in nearly a decade and has seen its shares fall 27% this year. Still, the holding company of the Agnelli family made clear that the ownership legacy dating back to 1923 remains an unbroken line of stewardship.
“Juventus, our history and our values are not for sale,” said John Elkann, CEO of Exor, in a video message on the club’s website.
Wearing a Juventus hoodie, Elkann added that the family remains “fully committed to the Club, supporting its new management team in the execution of a clear strategy to deliver strong results both on and off the field.”
Tether’s ambition to expand its influence
Tether, headquartered in El Salvador and run by Italian CEO Paolo Ardoino, confirmed that it had made a binding all-cash proposal to Exor. The crypto company also said it planned to make a public offer to buy the remaining Juventus shares if Exor agreed to its sale.
Tether currently holds more than 10% of Juventus, making it the club’s second-largest shareholder. According to Reuters, the company’s aim was to boost credibility in the European financial and sporting landscape while expanding its presence beyond the crypto market.
“For me, Juventus has always been part of my life. I grew up with this team,” said Ardoino in an earlier statement. “Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon.”
The company said it viewed Juventus as an opportunity to connect blockchain technology with global sports. It also noted that the investment would symbolize its “deep admiration and respect” for the club’s legacy.
Juventus’ heritage and financial struggles
Founded in 1897, Juventus is Italy’s most successful football club, with a record 36 Serie A titles. Once home to star players such as Michel Platini, Roberto Baggio, Alessandro Del Piero, and Cristiano Ronaldo, the club has long represented Italy's most decorated football club and one of the most successful teams in Serie A history.
Despite its illustrious past, Juventus has faced major challenges. Financial losses have mounted, with investors led by Exor injecting over €1 billion into the club over the past seven years. Legal troubles have also shaken the organization, including a 2023 false accounting case that resulted in a 10-point deduction in Serie A.
As of this season, Juventus sits seventh in Serie A. The club recently appointed Luciano Spalletti to replace Igor Tudor as head coach. Speaking ahead of their weekend match at Bologna, Spalletti said he appreciated the owners’ continued backing.
“It’s a pleasure once again to feel the strength and passion of John Elkann and his family for this club,” the coach said, according to ESPN. “It’s clear that it’s up to us to give substance in exchange for this passion, honoring the past and building a future at the same level, or even better.”
Stable foundation, firm refusal
Exor’s decision marks the latest instance of the Agnelli family resisting foreign acquisitions amid increased global investment in Italian football. While clubs like AC Milan, Inter Milan, and AS Roma are owned by overseas firms, Juventus remains closely tied to its founding family’s identity.
The message from Elkann was unambiguous: the club’s ownership will remain Italian.
“Juve has been part of my family for 102 years,” he said. “Over the course of a century, four generations have emboldened it, made it strong, taken care of it in tough times, and celebrated it in the many festive moments.”
Oleksii Shumak
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