TETHER, a cryptocurrency group, announced on Friday that it has put forward a full-cash offer to the Agnelli family's holding company, Exor, to purchase their entire ownership stake in Juventus, Italy's most successful football club.
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| Alessandro Garofalo / Reuters |
According to sources close to Exor, the Agnelli family has no plans to sell Juventus to Tether or any other party.
Tether, which issues a stablecoin called USDT that is tied to the US dollar, has already acquired more than 10% of Juventus this year, making it the club's second-largest shareholder after the Agnelli family.
In its proposal, Tether aims to buy Exor's stake in Juventus, which accounts for 65.4% of the club's total shares.
The company did not reveal the price it would pay for the shares in a press statement. If the deal goes through, Tether said it would invest 1 billion euros to back the club. Juventus has not made any comments on the offer.
Exor's CEO, John Elkann, mentioned in November that the Agnelli family has no interest in selling its shares in Juventus. The family’s connection to the club dates back to 1923, when Edoardo Agnelli became the club's chairman. Tether's CEO, Paolo Ardoino, is an Italian national and a supporter of Juventus.