Crypto heavyweight Tether has taken an unprecedented step into European football, submitting an all-cash proposal to acquire a controlling stake in Juventus Football Club, one of the most decorated teams in Italy’s sporting history.
The proposal, disclosed on Friday, targets the Agnelli family’s holding company, Exor, which currently controls 65.4% of Juventus’ issued share capital. If accepted, the deal would hand majority ownership of the Turin-based Serie A side to the issuer of USDT, the world’s largest U.S. dollar–pegged stablecoin by market capitalization.
Tether confirmed that the offer covers Exor’s entire stake and would be followed by a public tender offer for the remaining Juventus shares at the same price. While the crypto firm did not disclose its valuation or offer price, it emphasized that the bid is fully funded with its own capital and backed by a long-term commitment to the club.
Juventus declined to comment on the proposal, while Exor was not immediately available for official comment. However, sources close to the Agnelli family were quick to play down the chances of a deal, stressing that Juventus is not for sale.
Key Takeaways
- Tether has submitted an all-cash proposal to acquire Exor’s 65.4% controlling stake in Juventus, aiming to become the club’s majority shareholder.
- The crypto firm has already accumulated more than 10% of Juventus shares and plans to invest up to €1 billion into the club if the acquisition is completed.
- Exor and the Agnelli family have reiterated that Juventus is not for sale, despite Tether’s formal bid and public tender offer plans.
- The move highlights growing crypto industry ambition to secure ownership of major global sports institutions beyond sponsorship and fan engagement deals.
A Bold Move From a Crypto Powerhouse
Tether’s bid comes after it quietly built a significant position in Juventus earlier this year. The company now holds more than 10% of the club, making it the second-largest shareholder after Exor. That foothold appears to have paved the way for a much more ambitious play.
Beyond the acquisition itself, Tether says it plans to inject up to €1 billion into Juventus if the transaction is completed. The funds would be directed toward strengthening the club’s sporting project, infrastructure, and long-term financial stability, according to the company.
Completion of the deal would still hinge on several conditions, including Exor’s acceptance, the signing of definitive agreements, and approval from relevant regulators. Italian football authorities and market regulators would likely scrutinize the transaction closely, given Juventus’ public listing and the scale of the proposed investment.
According to reports cited by Italian outlet Calcio e Finanza, Exor has a limited window to formally respond to the proposal. Yet early signals suggest resistance rather than negotiation.
Exor and the Agnelli Legacy
The Agnelli family’s connection to Juventus runs deep, stretching back more than a century. In 1923, Edoardo Agnelli became chairman of the club, beginning a dynasty that would see Juventus rise to dominate Italian football with a record number of league titles.
As recently as November, Exor CEO John Elkann reiterated that the family had no intention of selling its Juventus shares. That position appears unchanged following Tether’s approach.
Sources close to Exor described the club as a core asset, not a disposable holding, reinforcing the view that the bid is unlikely to succeed in the near term. For the Agnellis, Juventus is more than a financial investment; it is a symbol of family heritage and Italian sporting identity.
Why Juventus Matters to Tether
For Tether, the Juventus proposal is about more than acquiring a famous football brand. It reflects a broader effort by the company to expand its influence beyond digital assets and into mainstream global institutions.
Paolo Ardoino, Tether’s CEO, has made no secret of his personal connection to the club. An Italian national and lifelong Juventus supporter, Ardoino framed the bid in emotional as well as strategic terms.
“For me, Juventus has always been part of my life,” Ardoino said. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.”
Juventus has also been an early participant in crypto-related initiatives, including fan tokens and NFT projects designed to engage supporters and unlock new revenue streams. That openness to digital experimentation may have made the club particularly attractive to a company like Tether, which sits at the intersection of finance, technology, and global markets.
Juventus’ Financial and Sporting Context
The timing of Tether’s bid is notable. Juventus has endured a turbulent period both on and off the pitch. In recent seasons, the club has faced managerial upheaval, regulatory scrutiny, and inconsistent performances in domestic and European competitions.
While Juventus last lifted a trophy in 2024, it has not enjoyed the sustained dominance that defined much of the previous decade. Financial pressures, combined with the demands of competing at the highest level, have forced the club to rethink parts of its strategy.
As of May 2024, Forbes valued Juventus at just over $2.15 billion, placing it among the most valuable football clubs in the world. Its publicly traded shares, however, reflected a lower market capitalization of around $1.17 billion in 2025, underscoring the gap between brand value and investor sentiment.
An influx of €1 billion, as promised by Tether, would dramatically alter Juventus’ financial outlook. It could fund squad rebuilding, youth development, and infrastructure upgrades, while also easing balance sheet pressures. That prospect alone explains why the bid has attracted so much attention, even if its chances of success remain slim.
Tether’s Growing Financial Clout
Tether’s ability to mount such a bid rests on its immense financial resources. USDT currently accounts for more than half of the global market for U.S. dollar–pegged stablecoins, according to data referenced by the Bank of Italy.
As of Friday, USDT’s market capitalization stood at approximately $186 billion. The stablecoin is backed primarily by U.S. dollars and U.S. Treasuries, making Tether one of the largest holders of U.S. government debt among private entities.
Stablecoins like USDT are designed to maintain a one-to-one peg with traditional currencies, relying on reserve assets such as government bonds and cash deposits. Their growing role in global crypto markets has drawn increased attention from regulators, central banks, and institutional investors alike.
For Tether, acquiring a club like Juventus would represent a major reputational milestone, signaling confidence in its balance sheet and its long-term ambitions beyond crypto trading and payments.
A Deal That May Redefine Crypto’s Role in Sports
Even if Exor ultimately rejects the offer, the bid itself marks a turning point. It shows how far crypto firms have come in their pursuit of mainstream legitimacy and influence. Sponsorships, fan tokens, and branding deals are now common in football. A full-scale takeover of a historic European giant would be something else entirely.
For now, Juventus remains under Agnelli family control, and sources close to Exor insist that position will not change. Yet Tether’s move has opened a new chapter in the conversation around ownership, capital, and the future of elite football clubs.
Whether the proposal succeeds or not, it underscores a simple reality: crypto companies are no longer content to operate at the edges of the global economy. They are making direct plays for institutions that sit at its very center.”
