Agnelli Family Resolute: Juventus Not for Sale Despite Tether's Billion-Euro Bid

The Agnelli family, through Exor CEO John Elkann, firmly dismissed Tether's lucrative offer to purchase Juventus, Italy's premier soccer club. Despite financial struggles, Exor emphasized Juventus is not for sale. Tether hoped to enhance its European stature through the acquisition but faced a unanimous rejection from Exor's board.

In a decisive move, Italy's renowned Agnelli family has dismissed any notion of selling Juventus, the nation's most successful soccer club, to Tether or any other group. Exor's CEO, John Elkann, made it clear in a rare video statement that Juventus, its heritage, and its values are not for sale.

Tether, a crypto firm headquartered in El Salvador, had proposed a significant cash offer to Exor for their stake in Juventus. The company, led by Italian Paolo Ardoino, a loyal Juventus fan, intended to further invest one billion euros to support the club if the deal progressed.

Despite the 21% premium offered over the closing share price, Exor's board unanimously rejected the billion-euro bid. Even with Juventus' financial challenges, Exor has no plans to part with its shares, maintaining its long-standing association with the club since 1923.

(With inputs from agencies.)