Tether Faces Strong Resistance from Juventus' Largest Shareholder After €1 Billion Acquisition Bid

Source: CryptoBriefing Original Title: Tether faces resistance from Juventus’ largest shareholder after acquisition bid Original Link:

Tether’s Bid for Juventus Control Faces Strong Resistance

Tether has formally submitted a binding, all-cash bid to acquire a 65.4% stake in Juventus from Exor, the Agnelli family’s holding company. The deal would secure a €1 billion investment for Juventus if approved.

However, the club’s owner has firmly stated there is no intention of selling, according to Bloomberg. This aligns with previous remarks by Exor CEO John Elkann, who indicated openness to collaboration but not a takeover.

Current Position and Strategy

Tether has already become Juventus’ second-largest shareholder through earlier purchases and secured its first board seat last month—the first non-Agnelli-backed board member since 2001.

CEO Paolo Ardoino has been vocal about his goal to “make Juventus great again,” stating: “From the beginning, our goal has always been to support the team and bring it back to the glory it deserves.”

Financial Context

Juventus faces significant financial challenges:

• The club has not posted an annual net profit in nearly a decade
• Share prices have fallen approximately 28% this year
• These factors could theoretically influence the Agnelli family’s decision-making

The Agnelli Family’s Position

While the family has recently considered selling underperforming assets like its media group Gedi, Juventus holds a fundamentally different position. The club is central to the Agnelli family’s identity and legacy, making a sale extremely controversial given fan loyalty and historical significance.