Key Highlights
- Tether’s CEO, Paolo Ardoin,o revealed that his company has officially submitted a proposal to acquire Juventus Football Club
- The company submitted its proposal to Exor to buy its entire stake in Juventus.
- The deal includes Tether’s plan to acquire 65.4% of the club’s share with regulatory approval before the final agreements
According to the latest post, Tether, the company behind the popular stablecoin issuer, USDT, revealed that it has officially submitted a proposal to acquire Juventus Football Club.
Tether’s Billion-Euro Bid for a Football Club
Tether CEO Paolo Ardoino shared a post on X, in which he revealed that the company has sent a proposal to Exor to buy their entire stake in Juventus.
“For me, Juventus has always been part of my life,” Paolo Ardoino, CEO of Tether, stated in the announcement. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.”
According to the official press release, the deal is expected to see Tether acquire 65.4% of the club’s share and be subject to regulatory approval before the final agreements.
After the completion of that initial transaction, Tether intends to launch a public tender for all remaining Juventus shares at the same price. The company mentioned that the entire proposal is fully funded by its own capital.
This deal is one of the major acquisitions of a major European football club by an entity from the cryptocurrency sector.
The press release reads: “Our interest in Juventus comes from deep admiration and respect. Juventus is a symbol of Italian excellence with a truly global presence, built over generations through hard work, ambition, and the unwavering loyalty of its supporters. These values mirror how we have built Tether, with patience, independence, and a focus on long term resilience.”
The proposal is framed not only as a financial transaction but as a commitment to a cultural institution.
“Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon. Our goal is to contribute positively to the club’s future, to support sporting performance at the highest level, and to help Juventus continue to grow sustainably in a rapidly evolving global sports and media landscape,” stated in the press release.
Tether Plans Tokenized Equity
According to the latest report, the company is actively exploring new methods to provide liquidity to its shareholders as it achieves a whopping $500 billion valuation.
According to the report from Bloomberg, the company is considering tokenizing investor equity or implementing share buyback programs.
This report comes amid the report that Tether is reportedly in advanced talks to raise $20 billion in new funding by selling a 3% stake in its business.
The discussions come amid an incident where Tether recently blocked an existing shareholder from selling a $1 billion stake, which could valued the company at approximately $280 billion.
Instead of allowing the private sale, the company is planning to provide formal liquidity solutions to investors after the current funding round is finalized. Tokenizing equity would transform company shares into digital tokens on a blockchain, which will make it easier to trade, fractionalize, and use as collateral within the decentralized finance system.
The U.S. Securities and Exchange Commission (SEC) has given a crucial green light to the Depository Trust and Clearing Corporation to proceed with tokenizing stocks, bonds, and exchange-traded funds. SEC Chair Paul Atkins declared that U.S. financial markets are expected to move on-chain, predicting that this change will bring greater transparency for investors.
Recently, Tether-backed company Twenty One Capital saw its shares plunge on its first day of trading on the New York Stock Exchange. The stock opened weakly and fell gradually throughout the session. This sharp drop comes after the company completed its merger with a special acquisition company, Cantor Equity Partners.
Also Read: Ripple Wins Major Federal Banking License from OCC
Source: https://www.cryptonewsz.com/tether-move-to-acquire-juventus-football-club/
