Juventus Rejected Tether’s Record-Breaking Offer, Backed by Exor

Exor rejects Tether’s offer to buy Juventus, marking the end of what could have been a turning point in the relationship between crypto and football. As cryptocurrencies seek to establish themselves in sports, this refusal raises the question: is the world of football ready to accept these new players?

Tether will not have Juventus: a bold offer, a rejection without appeal

Tether, the issuer of the USDT stablecoin, attempted to buy 65.4% of Juventus’s shares , held by Exor, the Agnelli family’s company. The offer, entirely in cash, included a promise to invest an additional $1 billion to modernize the club. An enticing proposal, but it was rejected without hesitation by Exor’s board of directors.

For Exor, the refusal is explained by a historic attachment to Juventus. Indeed, the Old Lady has been owned by the Agnelli family for over a century. In a statement, Exor reaffirmed its long-term commitment and support for the club’s new management. Tether’s offer, described as “unsolicited“, did not convince, despite the crypto company’s stated ambitions.

This rejection highlights a mistrust of outside players, especially in a sector as traditional as Italian football. For Tether, this is a first failure in its sports expansion strategy but likely will not mark the end of its ambitions.

Tether: which football clubs could succumb to the crypto temptation?

Exor’s refusal represents a setback for Tether, which saw Juventus as a major gateway into European football. However, other clubs, struggling financially, might be more open to investors like Tether. FC Barcelona, in debt, or Inter Milan, seeking stability, could become prime targets.

Some clubs have already taken the step into crypto. PSG, Manchester City, and others have partnered with platforms like Socios.com to launch fan tokens. These partnerships show that football is not immune to financial innovation, even if full acquisitions remain rare. Tether could therefore turn to more receptive clubs or focus on less ambitious collaborations.

Tether (USDT): Could Juventus buyout refusal hurt the stablecoin?

USDT, Tether’s stablecoin, is already controversial due to its lack of transparency. Could this refusal by Juventus worsen that distrust? Supporters, attached to their club’s history, might view crypto’s intrusion into traditional football negatively. For Tether, the challenge is twofold: improve its image and convince fans that crypto can add value.

Partnerships with clubs, if well executed, could help legitimize USDT. But following this refusal, the task looks tougher. Juventus fans, in particular, might be reluctant to adopt USDT out of loyalty to Exor and the Agnelli family. This rejection could therefore impact cryptocurrency adoption in sport, at least in the short term.

Tether’s rejection by Exor shows that football remains cautious about crypto in general and stablecoins in particular. Yet, with indebted clubs and an industry seeking innovation, this alliance might become inevitable. The question remains: at what cost? The debate about the future of cryptocurrencies in sport is far from over.