What happens in the most important club in Italy? Tether has come out to take the company away from Exor but Elkann doesn’t want to sell. Ten days to write the final word (perhaps) to the last rift in the black and white world
It thundered so much that it rained. After months of chatter and indiscretions against the backdrop of Tether, the crypto giant’s search for free shares on the market, the day of the public offering has arrived. Tether Investments wants Juventus and its strongman, Paolo Ardoino, writes about it openly on social media, coming out into the open. A one billion euro plan to take over the entire majority stake of the Juventus club currently in the hands of Exor (65% of the share capital) and ten days to decide.
An offer that also forced John Elkann to respond by denying any possibility of selling shares in the company. A flat refusal that follows months of silence and the duel in the last shareholders’ meeting when the proposals of Tether, the most cumbersome of the minority shareholders, had all been returned to the sender.
Elkann denies his intention to sell Juventus
The offer from Tether Investments, which currently owns 11.5% of Juventus shares, is the purchase of the shares in the hands of Exor at a price of 2.66 euros per share, significantly higher than the 2.19 euros of the official stock market price recorded on 12 December 2025. A total expense of 1.1 billion euros with “a premium of approximately 20.74% compared to the official price of the Company’s shares at 11 December 2025”, an award which certifies a valuation higher than the current market capitalization of approximately 915 million.
“There are no ongoing negotiations regarding the sale of a share in Juventus”, an Exor spokesperson announced in the hours following the publication of the proposal, with the aim of putting an end to what have been defined as “press rumours” but which, in reality, are a real attempt to take over the company which has always been in the hands of the Agnelli family.
John Elkann had spoken out earlier in the day: “My family’s relationship with Juventus is the longest-lasting that exists in the world – he said -. Our relationship with Juventus is decisive, it was born from my great-grandfather, it was a strong relationship. My generation with Andrea Agnelli gave a lot, I am grateful to him and the new generations are also very involved. Our relationship is stainless, if you think about 2006 it is one of the most difficult, but we came out of it stronger. In 2022 we have had a difficult moment and we are getting out of it. We are open to anyone who is interested in Juventus, the important thing is that our relationship is never called into question. Today it is important that Juventus win and a coach like Spalletti, with his experience, must lead them to win.”
Tether’s announcement: we want to buy Juventus
Paolo Ardoino, CEO of Tether and a declared Juventus fan, had come out into the open on his X profile announcing the official step with a statement: “Today Tether sent an official proposal to Exor to buy their entire share of Juventus. From the beginning our goal has always been to support the team and bring it back to the glory it deserves. As part of our commitment, if this transaction is successful, Tether will invest 1 billion euros in the club”.
Ten days to receive a response that goes beyond the official statements from Elkann and the denials that arrived immediately. The offer certainly comes at the most difficult moment in Juventus’ recent history, not only on a sporting level. The latest balance sheet closed with a loss of 58 million euros which brought the total of the reds to 919 since 2019 with the majority shareholder forced to continue recapitalization interventions until exceeding the one billion threshold. All without being able to start a new competitive sports project.
