Tether, the issuer of the USDT stablecoin, said it has submitted a binding proposal to acquire Exor’s 65.4% stake in Juventus FC through an all-cash offer. If successful, the firm plans to launch a public tender offer for the remaining shares, potentially taking full ownership of the publicly listed football club.
Juventus has a market capitalization of roughly $925 million, and Tether said it is prepared to invest up to $1 billion in the club following completion of the transaction. The crypto firm already holds a stake exceeding 10% and has previously indicated interest in playing a more active role in the club’s future.
The bid underscores Tether’s broader diversification strategy as it expands into payments, artificial intelligence, and non-crypto assets. The company reported more than $10 billion in profits this year, largely driven by yields on U.S. Treasurys backing USDT, the world’s largest stablecoin by market value.
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