the Agnelli family has firmly rejected a reported €1 billion takeover bid from cryptocurrency firm Tether for Italian soccer giant Juventus, reaffirming their commitment to the club after more than a century of ownership. The decision arrives amid increasing interest in European football teams from non-conventional investors, reflecting the sport’s growing financial appeal [[2]]. Juventus, currently under new management with Luciano Spalletti, is attempting to regain its Serie A dominance after a period of restructuring and recent off-field challenges [[1]].
Agnelli Family Rejects Tether Bid, Confirms Juventus Not For Sale
The ownership of Juventus has publicly rebuffed a takeover offer from cryptocurrency firm Tether, firmly stating that the storied Italian football club will remain under the control of the Agnelli family. The decision comes as major European sports teams increasingly attract interest from non-traditional investors.
Tether reportedly offered approximately €1 billion (roughly $1.2 billion USD) for a majority stake in the 36-time Serie A champions. The offer represents a significant valuation for one of Italy’s most recognizable brands.
“Juventus, our history and our values are not for sale,” stated John Elkann, CEO of Exor, the Agnelli family’s holding company, in a video message released on the club’s website. Elkann’s statement underscores the family’s long-standing commitment to the club.
“The Juve has been part of my family for 102 years,” Elkann continued. “Over a century, four generations have driven it forward, strengthened it, cared for it in difficult times, and celebrated it in the many moments of joy.”
Elkann, the grandson of Fiat magnate Giovanni “Gianni” Agnelli, added that the family remains committed to supporting the team and building a winning future. “We continue to support our team and look to the future to build a winning Juventus,” he said.
Currently, Juventus is attempting to regain its dominance in the Serie A, having not won the league since a run of nine consecutive titles between 2012 and 2020. The club recently appointed Luciano Spalletti as manager, replacing Igor Tudor, following a challenging start to the season.
Spalletti voiced his support for the owners’ position. “It’s a pleasure to once again feel the strength and passion of John Elkann and his family for this club,” he said during a press conference ahead of Sunday’s Serie A match against Bologna. “It’s clear that it’s up to us to give substance in return for that passion, to honor the past and build a future at the same level, or even better, as John Elkann himself told us when he came to visit us.”
The Agnelli family faced a period of turmoil in 2022 when former Juventus president Andrea Agnelli and the entire club board resigned amid an investigation into alleged false accounting practices.
While several other major Italian clubs – AC Milan, Inter, and Roma – are now owned by foreign investment funds, Juventus and reigning Serie A champion Napoli, owned by Italian film producer Aurelio De Laurentiis, remain under national control.
In a statement, Exor affirmed its previous position, stating, “Exor reaffirms its previous and consistent statements that it has no intention of selling any of its Juventus shares to a third party, including – but not limited to – Tether, based in El Salvador.”
“Juventus is a historic and successful club, of which Exor and the Agnelli family have been stable and proud shareholders for more than a century, and remain fully committed to the institution, supporting its new management team in the execution of a clear strategy to achieve solid results both on and off the pitch.”
Information from The Associated Press was used in this report.
