Agnelli Family Stands Firm on Juventus amidst Tether's Ambitious Bid

The Agnelli family, through Exor, has firmly rejected any intention to sell their stake in Juventus to crypto group Tether, which proposed an all-cash buyout. Tether, already a major Juventus shareholder, offered a substantial premium per share and expressed plans to invest significantly if successful.

In a significant corporate development, the Agnelli family has made it clear there are no plans to part with their storied asset, Juventus, despite advances from the crypto powerhouse Tether. Sources affiliated with Exor, the family's holding company, confirmed this after Tether's proposal to acquire the famed Italian Serie A club.

Offering 2.66 euros per share, Tether's bid values Juventus at more than one billion euros, a 21% premium on its latest share price. It should be noted that Juventus has not recorded an annual net profit in almost a decade, with shares down 27% this year.

Tether, issuer of the stablecoin USDT, holds over 10% of Juventus's shares. With a plan to invest an additional one billion euros, Tether's intentions illustrate a substantial commitment to the club's future, despite the initial refusal by Exor's CEO John Elkann to entertain a sale.

(With inputs from agencies.)