The stablecoin company Tether (USDT) attempted to purchase the Italian football club Juventus, a move that is likely to have significant repercussions
On Friday, 12 December 2025, Tether submitted an offer to buy Juventus. The following day, Exor swiftly rejected it.
“Exor reaffirms its previous and consistent statement that it has no intention of selling any of its shares in Juventus to a third party, including the Salvadoran company Tether.”
Tether’s offer was for €1.1 billion to acquire all of Exor’s shares, representing 64.5% of the club’s capital. The proposed price of €2.66 per share was well above Juventus’ closing price on the Milan Stock Exchange on Friday, 12 December, which stood at €2.19.
A Major Acquisition for Paolo Ardoino
This is a disappointment for Paolo Ardoino, the Italian CEO of Tether, who has openly expressed his attachment to the ‘Old Lady’.
“I grew up with this team,” he said. “As a child, I learned the meaning of commitment, resilience, and responsibility by watching this team face both success and adversity with dignity. These lessons have stayed with me long after the final whistle.”
He is now finding it hard to recover from this setback.
A Drop Below 300 Billion
Some Tether investors attempted to sell shares immediately at levels well below the company’s theoretical valuation, fearing that the failed acquisition would affect the group’s worth. Until then, Tether had been estimated at around $500 billion.
The company intervened, assuring investors that “these initiatives will not go any further.” Nevertheless, Tether’s valuation subsequently fell below $300 billion.
A $20 billion fundraising context
The timing is unfortunate: these events coincide with plans to raise around $20 billion in funding. The stated goal is to attract strategic investors, although no timetable has been announced for a potential stock market listing. As a result, both new and existing investors may need to wait several years before being able to exit.
A missed opportunity for Tether
Beyond the disappointment expressed by its CEO, this failure represents a missed opportunity for Tether. Acquiring a well-known football club like Juventus could have helped the company achieve multiple objectives.
On one hand, Tether could have introduced USDT into ticketing, merchandising, and sponsorship transactions to increase its presence in the institutional world.
On the other hand, a high-profile showcase like Juventus could have enhanced transparency and helped demystify the company. Following the gaming sector, sports—especially football—is one of the fastest-growing industries adopting cryptocurrencies. Acquiring Juventus would have positioned Tether as a leading cryptocurrency provider in this emerging market.
While the deal caused a stir among fans and gave Ardoino the opportunity to present himself as a Juventus supporter, Tether may not have succeeded in this venture—but it is too early to declare a definitive loss.
