Overview
- Tether Investments’ unsolicited offer was unanimously rejected by Exor’s board, which reiterated it has no intention of selling any Juventus shares to third parties, including Tether.
- Tether proposed €2.66 per share for Exor’s 65.4% stake, valuing the club’s equity at about €1.1 billion, and pledged roughly €1 billion of additional resources if a deal closed.
- John Elkann reinforced the stance in a club video, declaring the team, its history and values are not for sale after more than a century of Agnelli family ownership.
- Juventus shares jumped in Milan trading, rising as much as 12% at the open and later being briefly suspended for excessive gains following the bid and its rejection.
- Tether already holds about 11.5% of Juventus, while sector analysts argue the proposal is low versus typical 5x–6x revenue benchmarks that imply a far higher enterprise valuation.