Tether, the cryptocurrency company behind the world’s leading stablecoin, USDT , is looking to fully acquire the well-known Italian football club Juventus FC, increasing its minority holding to 100%.
The company announced on Friday that it has made a binding proposal for majority stakeholder Exor’s 65.4% share in the club through an all-cash offer, as stated in a blog post from Friday. Should the deal be successful, Tether plans to initiate a public tender for the remaining shares at the same price. Juventus FC SpA is publicly traded, currently valued at $925 million based on Friday’s closing price.
Tether has indicated it is “ready” to invest $1 billion in the club if the acquisition is finalized.
“Our interest in Juventus stems from a deep admiration and respect,” said Tether CEO Paolo Ardoino, a lifelong supporter of the team. “Tether is in a strong financial position and aims to provide Juventus with stable capital and a long-term vision.”
This bid comes as Tether diversifies beyond its cryptocurrency origins, investing in artificial intelligence, payment systems, robotics, and even sports. Its flagship token, valued at $188 billion USDT, is the leading asset in the rapidly expanding stablecoin market, gaining traction as a preferred means of payment and savings in emerging economies. The company reported over $10 billion in net profits during the first nine months of the year, primarily from the yield on U.S. Treasury bills that back USDT. Additionally, Tether possesses 116 tons of gold — a significant reserve exceeding that of some mid-sized nations.
The fan crypto token for Juventus, called JUV (JUV), jumped 30% following the announcement.
