Key Takeaways
- Exor N.V. has rejected Tether Investments’ offer to acquire its shares in Juventus Football Club.
- Exor and the Agnelli family reaffirm their commitment to retaining ownership and supporting Juventus.
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Juventus owner Exor N.V. has turned down Tether’s proposal to acquire its full 65.4% controlling stake in the football club, according to an official statement on Saturday.
The decision, unanimously taken by Exor’s board of directors, came less than 24 hours after the crypto giant submitted its offer.
The company stated it has no intention of selling its shares in Juve to a third party, reaffirming that it is committed to retaining ownership and supporting Juventus’ management in achieving strong results.
Tether, already the second-largest shareholder and with a newly acquired board seat, was determined to revitalize Juventus, which has struggled financially in recent years.
There is little surprise about Juventus rejecting such an offer. Exor CEO John Elkann said months ago that the club was not for sale. The owner did not wait long to signal its resistance, reportedly pushing back the proposal just hours after it was made public.
“Juve has been part of my family for 102 years. It is part of the true meaning of the word, because over the course of a century, four generations have grown it, made it strong, welcomed it in difficult times, and celebrated it in many happy moments,” Elkann reiterated Exor’s stance in a video address on Saturday.
“This passion, this love story has united us for over a century. As a family, we continue to support our team and look to the future to build a winning Juve. Juventus, our history, and our values are not for sale,” he said.
Juventus coach Luciano Spalletti welcomed Exor’s decision to keep control of Juventus. Spalletti said it placed responsibility back on the football side to deliver results.