Important points
- Exor NV has rejected Tether Investments' offer to acquire a stake in Juventus Football Club.
- Exor and the Agnelli family reaffirm their commitment to retain ownership and support Juventus.
According to an official statement on Saturday, Juventus' owner Exor NV has rejected Tether's offer to acquire a full 65.4% controlling stake in the football club.
The decision was made unanimously by Exor's board of directors and came less than 24 hours after the crypto giant submitted its proposal.
The company said it had no intention of selling its shares in Juventus to a third party, reaffirming its commitment to retain ownership and support Juventus' management to achieve positive results.
Already the second-largest shareholder and with a new seat on the board, Tether was determined to revitalize Juventus, which has struggled financially in recent years.
There is little surprise that Juventus rejected such an offer. Exor CEO John Elkann said a few months ago that the club was not for sale. The owners reportedly quickly expressed their opposition and postponed the proposal just hours after it was made public.
“Juve has been part of my family for 102 years. That is part of the true meaning of this word, because over a century four generations have grown Juve, made it stronger, welcomed it in difficult times and celebrated it in many happy moments,” Elkann reiterated Exor's position in a video address on Saturday.
“This passion, this love story, has united us for more than a century. We continue to support the team as a family and look to the future to build a winning Juventus. Juventus, our history and our values are not for sale,” he said.
Juventus manager Luciano Spalletti welcomed Exor's decision to keep Juventus in control. Spalletti said the responsibility for delivering results would be returned to the football side.
