Cryptocurrency company Tether has moved to acquire a majority stake in Italian football club Juventus Football Club.
The company announced it has submitted a binding, all-cash offer to Exor, Juventus’s main shareholder, for all shares representing 65.4 percent of the club’s issued capital.
Tether stated in a press release that the transaction is subject to necessary regulatory approvals and the signing of final agreements. The acquisition will be entirely financed by Tether’s own resources, and if completed, the company plans to invest up to €1 billion to support Juventus’ development.
The company also announced its intention to conduct a public offering of the remaining shares at the same share price following the acquisition of Exor’s shares. Tether stated that this process will be backed by a long-term commitment and aims to sustainably strengthen the club’s sporting and corporate structure.
Tether CEO Paolo Ardoino stated that their interest in Juventus goes beyond a financial investment, highlighting the club’s special place in Italian sports culture. Ardoino added that Juventus’s philosophy of discipline, resilience, and long-term success aligns with Tether’s own corporate values.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/tether-submits-offer-to-acquire-one-of-the-worlds-largest-football-clubs/
