Crypto's Tether launches public offer to buy Italian soccer club Juventus

USDT issuer Tether on Friday announced that it has submitted a binding, all-cash proposal to acquire majority (65.4%) of Italian soccer club Juventus Football Club, via Exor, the holding company that owns the club. This transaction is reportedly fully backed by Tether’s own capital, will depend on regulatory approvals and Exor’s acceptance. In a press release dropped on Friday, Tether said that the offer is driven by a long-term commitment to the club and once finalized, Tether said it will launch a tender offer for the remaining minority shares under the same terms. Tether outlines its plan for Juventus Paolo Ardoino, the CEO of Tether, said the decision comes from both personal connection and respect for Juventus’ legacy. In Paolo’s words:- “For me, Juventus has always been part of my life. 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.” Paolo also called Juventus “a symbol of Italian excellence with a truly global presence.” Though it continues to face scrutiny over the transparency of its reserves, Tether vowed that it is in a position of strong financial health and intends to provide Juventus with stable capital and a long investment horizon. The offer includes plans for a €1 billion investment to support and develop Juventus if the transaction is completed. Tether confirmed that the completion of the deal would depend on definitive documentation and formal regulatory clearance. Once finalized, it will move forward with the public tender offer for all remaining shares at the same price per share offered to Exor. Tether said it would provide further updates in line with applicable laws and regulations once the process moves forward. Get $50 free to trade crypto when you sign up to Bybit now