Agnelli Family Rejects Tether’s $1 Billion Bid for Juventus Stake

Core Viewpoint - The Agnelli family has rejected Tether's €1 billion ($1.17 billion) proposal to acquire majority control of Juventus Football Club, indicating a strong commitment to maintaining ownership of the club [1][2]. Group 1: Rejection of Proposal - Exor, the Agnelli family's holding company, stated it has no intention of selling its 65.4% stake in Juventus to Tether or any third party, effectively ending a significant takeover attempt in European football [2]. - The rejection of Tether's offer led to a surge in Juventus shares, which increased by more than 12%, reaching their highest level since November 25, reflecting a 21% premium over the previous closing price [3]. Group 2: Historical and Emotional Significance - Exor's board emphasized that Juventus is more than just a commercial asset, highlighting the Agnelli family's century-long ownership and commitment to the club [4]. - Tether's CEO framed the rejected offer as a long-term commitment, expressing a personal connection to Juventus and a willingness to support the club with stable capital [5]. Group 3: Tether's Strategic Position - Tether's proposal was positioned as a strategic move to assist Juventus in navigating the evolving global sports and media landscape [6]. - Despite the rejection, Tether has established a significant presence within Juventus, having acquired an initial stake and expanded holdings beyond 10%, along with placing representatives on the club's board [6]. Group 4: Industry Context - The rejected bid from Tether comes amid increasing private equity interest in European football clubs, aiming to leverage lucrative media rights and player transfer markets [7].