Stablecoin giant Tether has announced that it intends to buy Juventus Football Club.
The firm has submitted an all-cash offer to buy Exor’s entire 65.4% stake in Juventus.
If regulators approve and Exor accepts, Tether will then make a public offer to buy the remaining shares at the same price. This will give the stablecoin behemoth full ownership of the team.
Tether says the acquisition will be funded entirely with its own capital, adding that the company is financially strong enough to sustain the club long-term.
If the deal goes through, Tether commits to investing €1 billion into the club’s development and providing long-term capital.
Bringing back the team's glory
Ardoino claims that he grew up being a fan of the soccer giant, adding that it represents "Italian excellence." The acquisition is supposed to bring the club back to its glory, the Tether CEO says.
"From the beginning, our goal has always been to support the team and bring it back to the glory it deserves," Ardoino said in a recent post.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team
