Key Takeaways
- Exor N.V. has rejected Tether Investments’ offer to acquire its shares in Juventus Football Club.
- Exor and the Agnelli family reaffirm their commitment to retaining ownership and supporting Juventus.
Juventus owner Exor N.V. has turned down Tether’s proposal to acquire its full 65.4% controlling stake in the football club, according to an official statement on Saturday.
The decision, unanimously taken by Exor’s board of directors, came less than 24 hours after the crypto giant submitted its offer.
The company stated it has no intention of selling its shares in Juve to a third party, reaffirming that it is committed to retaining ownership and supporting Juventus’ management in achieving strong results.
Tether, already the second-largest shareholder and with a newly acquired board seat, was determined to revitalize Juventus, which has struggled financially in recent years.
There is little surprise about Juventus rejecting such an offer. Exor CEO John Elkann said months ago that the club was not for sale. The owner did not wait long to signal its resistance, reportedly pushing back the proposal just hours after it was made public.
Juventus coach Luciano Spalletti welcomed Exor’s decision to keep control of Juventus. Spalletti said it placed responsibility back on the football side to deliver results.
Source: https://cryptobriefing.com/tether-takeover-bid-juventus/
