Juventus Rejects Billion-Euro Crypto Offer

Juventus has firmly rejected a substantial €1.1 billion takeover bid from Tether, the world's most trusted stablecoin. The proposal, submitted by Tether's co-founder Giancarlo Devasini, aimed to acquire the 65.4% controlling stake held by Exor, the Agnelli family's holding company. Exor's board unanimously dismissed the unsolicited offer, signaling a strong commitment to the family's long-standing ownership of the club, which dates back over a century.

Despite the rejection, Tether, which already possesses an 11.5% stake in the club listed on the Milan stock exchange, has reiterated its ambition to be a positive force for change. The stablecoin firm has previously expressed a desire to "Make Juventus Great Again" and even submitted candidates for board consideration. The bid's timing is noteworthy, occurring amidst broader discussions about Exor's divestment of other assets and Juventus' recent financial struggles, having lost nearly a billion euros in the past five years.