Tether aims to buy the entire Juventus team, ready to invest 1 billion USD

Tether, the company behind the stablecoin USDT, is aiming to own 100% of the famous football club Juventus FC. The company has proposed to acquire a 65.4% stake in Exor – Juventus's largest shareholder – entirely paid in cash, and also plans to conduct a public offering to purchase the remaining shares at the same price. If the deal succeeds, Tether will become the controlling shareholder of the entire club.

Tether currently holds more than 10% of Juventus's shares and has expressed a desire to become more actively involved in the club's operations in Turin, Italy. The company stated it is ready to invest an additional $1 billion to develop Juventus if the deal is finalized. CEO Paolo Ardoino, a long-time Juventus fan, emphasized that this move stems from admiration and respect for the team, and committed to supporting the club with stable funding and long-term vision.

Financially, Tether reported a net profit of over $10 billion in the first nine months of the year, mostly from US Treasury bond yields backing USDT. The company also holds 116 tons of gold, surpassing some small and medium-sized countries. The USDT token currently has a market capitalization of $186 billion, dominating the stablecoin market and increasingly being used widely as a means of payment and savings in developing countries. Immediately after the news, Juventus's fan token JUV surged 30% in the market.