Tether Submits All-Cash Proposal to Acquire Juventus Football Club

• Tether bids all cash for Exor’s 65.4% Juventus stake, planning a full takeover via public tender.
• Offer values Juventus near €1.1B at €2.66 per share, with a December 22 acceptance deadline.
• Up to €1B investment pledged for long-term growth as Exor signals resistance.

Tether has made an all-cash bid to acquire Juventus Football Club. The bid is aimed at Exor’s 65.4% stake in the holding company belonging to the Agnelli family. The proposal includes a plan for a complete takeover through a public tender. Tether’s CEO, Paolo Ardoino, has accepted the proposal and stated that it is a long-term investment.

The stablecoin issuer added that it submitted an offer that was binding on Exor on Friday. Exor has controlled Juventus since 1923 through a publicly listed investment structure. Tether said that the offer addresses the full 65.4% stake of Exor. Acceptance would lead to the transfer of effective control.

The bid would place Juventus at an estimated value of approximately €1.1 billion. It is mentioned that it has been proposed at a price of €2.66 per share. At the Milan stock market, Juventus stock closed at €2.19 on Friday. ANSA indicates that the offer will expire on December 22 should Exor fail to accept.

Tether Outlines Full Cash Funding as Exor Pushes Back

Tether announced that it would open a market offering on the shares remaining after it has taken over the stock of Exor. Juventus is publicly traded on Borsa Italiana. The market capitalization of the club is nearly $925 million. Tether declared that it will finance the whole transaction through its capital.

Exor reacted skeptically to the announcement. A source close to the holding company informed AFP that Juventus is not up for sale. Exor has made similar stands before. It has already refused to divest the club at times of market speculation.

Tether already holds a substantial stake in Juventus. The company currently owns over 10% of the club after making incremental purchases earlier this year. In February, it announced a minority investment. It subsequently gained access to the board through the nomination of Francesco Garino.

The company stated that its interests extend beyond financial ownership. Tether termed the funding as sporting operations, infrastructure, and long-term stability. It mentioned that it is willing to inject up to €1 billion into the club post-takeover. No specific expenditure plan was revealed.

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Ardoino emphasized personal reasons for the bid. He claimed to have been a supporter of Juventus. He stated that his club helped him form his values. Ardoino underlined that Tether is not interested in financial performance in the short run but in having stable ownership.

Juventus Brand Strength Holds as Tether Posts Strong Profits

Juventus remains one of the most successful global brands in Serie A. The club is a major commercial partner with Adidas, Jeep, and Allianz. Those agreements are independent of ownership discussions. The club maintains its normal functioning even during the takeover proposal.

The bid occurs when Tether has been performing well financially. The USDT issuer recorded over $10 billion in profit in the first nine months of the year. The majority of its revenue was based on yields on US Treasury bills that supported its stablecoin reserves.

Tether has remained under fire regarding disclosures of transparency and reserves. The company has been previously challenged by industry critics on its solvency. CoinShares has said that the available disclosures do not imply that Tether is weak financially.

The news also stirred the markets of digital assets. Juventus fan token, JUV, increased by around 30% following the news. The takeover proposal is still under regulatory approvals in Italy and Europe. Officials would check ownership appropriateness and reporting of financial activities. The Tether bid is still open and is pending an official reply from Exor.

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