Exor has unanimously rejected Tether’s proposal to amass its controlling 65.4% stake in Juventus Soccer Membership.
Abstract
- Exor rejected Tether’s all-cash €1.1B proposal to amass management of Juventus.
- Tether provided €2.66 per share plus a €1B funding pledge for the membership.
- The Agnelli household reaffirmed its century-long dedication to Juventus possession.
The Agnelli household holding firm introduced the choice on December 13, 2025, someday after Tether submitted its binding all-cash supply valued at roughly €1.1 billion.
Exor said it “has no intention of promoting any of its shares in Juventus to a 3rd social gathering, together with however not restricted to El Salvador-based Tether.”
The board referred to as Juventus as “a storied and profitable membership, of which Exor and the Agnelli household are the steady and proud shareholders for over a century.”
Tether provided €2.66 per share with €1 billion funding pledge
Tether’s proposal valued Juventus shares at €2.66 every, representing a 21% premium over the December 12 closing value of €2.19. The supply included a dedication to speculate a further €1 billion in membership growth if the transaction closed.
The stablecoin issuer deliberate to comply with the Exor acquisition with a public tender supply for all remaining Juventus shares at equivalent pricing.
Tether CEO Paolo Ardoino framed the bid as personally motivated, calling himself a lifelong supporter who “grew up with this group.”
Exor CEO John Elkann emphasised the household’s century of stewardship. “Juventus has been a part of my household for 102 years. 4 generations have grown it, strengthened it, cared for it in tough moments and celebrated it in completely satisfied ones,” Elkann mentioned.
Tether already holds 11.5% stake as second-largest shareholder
Tether has gathered an 11.5% place in Juventus since February 2025, making it the membership’s second-largest shareholder behind Exor. The stake constructing preceded the formal acquisition proposal by a number of months.
The rejection leaves Tether’s strategic choices restricted. The corporate can preserve its minority stake, doubtlessly enhance it by way of open market purchases beneath the controlling threshold, or divest the place completely.
The Agnelli household has managed Juventus since 1923, navigating a number of crises together with the 2006 Calciopoli scandal that noticed the membership relegated to Serie B.
The household maintained possession all through the episode and subsequent rebuilding.
