Tether has launched an all-cash bid to acquire Italy’s Juventus Football Club, an offer that was reportedly swiftly turned down. Key Takeaways: Tether made a $1.1 billion all-cash bid to buy Juventus, but Exor swiftly rejected the offer. Tether signaled it remains interested and is willing to invest €1 billion to develop the team. The move expands Tether’s growing footprint in sports and investment sectors. The stablecoin issuer said Friday it had submitted a binding offer to Exor, the Agnelli fa ...

Core Viewpoint - The company anticipates an increase in losses, projecting a loss of approximately HKD 320 million for the fiscal year ending June 30, 2025, compared to a loss of about HKD 182.8 million for the fiscal year ending June 30, 2024 [1] Financial Performance - The projected increase in losses is attributed to several factors, including the relegation of Birmingham City Football Club to the English Football League Championship, which has resulted in decreased broadcasting revenue [1] - Increased financing costs due to higher loan amounts are also contributing to the anticipated losses [1] - Operating expenses for the football club have risen, primarily due to increased matchday expenses and higher depreciation costs following upgrades to infrastructure and equipment [1] Asset and Expense Changes - The amortization of intangible assets has increased due to the acquisition of new players [1] - The company's share of losses from joint ventures has risen due to increased operating expenses in those ventures [1] - The automotive business has seen an increase in sales and marketing expenses, research and development costs, and administrative expenses, although some of these costs have been offset by gains from changes in the fair value of financial assets and increased matchday and commercial revenues from the football club [1]