Tether Submits €1bn-Backed Proposal to Acquire Juventus from Exor.

Roger Hampel

Image: Tether

Tether has submitted a binding all-cash proposal to Exor to acquire its controlling stake in Juventus Football Club, signalling a potential ownership change at one of Europe’s most established football institutions. The proposal, dated 12 December 2025, concerns Exor’s 65.4 percent shareholding and remains subject to regulatory approvals and the execution of definitive transaction documentation.

Transaction Structure and Ownership Scope Tether Juventus

Under the terms outlined, Tether intends to acquire Exor’s entire stake before launching a public tender offer for the remaining shares at the same price per share. The proposal is fully funded with Tether’s own capital, with no external financing disclosed. If completed, the transaction would mark the end of decades-long control by the Agnelli family via Exor and introduce a new ownership profile into Italian football.

Proposed Capital Commitment and Investment Horizon

Following completion, Tether has indicated it would be prepared to invest up to €1 billion into Juventus. While detailed capital allocation plans have not been disclosed, the company framed the proposal around long-term financial stability and sustained sporting competitiveness, rather than short-term financial returns.

Juventus, which combines a global commercial footprint with a central role in Italian football, has faced increasing pressure to balance sporting ambition with regulatory and financial discipline. Any new ownership structure will therefore be closely assessed in the context of UEFA financial regulations and domestic governance requirements.

Governance, Regulatory and Market Conditions

The proposed acquisition remains conditional on Exor’s acceptance, regulatory approvals and the completion of all required shareholder and market disclosure processes. No timeline has been communicated, and there is no confirmation that negotiations have advanced beyond the submission of the proposal.

If approved, Tether would proceed with a public tender offer for the remaining shares, completing a full change of control. Until such approvals are secured, Juventus’ ownership structure remains unchanged.