Exor rejects Tether's offer to buy Juventus, marking the end of what could have been a turning point in the relationship between crypto and football. As cryptocurrencies seek to establish themselves in sport, this refusal raises the question: is the world of football ready to accept these new players?
In brief
- Tether proposed a cash buyout of 65.4% of Juventus for more than $1 billion, but Exor rejected the offer outright.
- This rejection hampers Tether's ambitions in football, but other clubs open to crypto could become targets.
- After Tether's failure to acquire Juventus, could fans be more wary of USDT and cryptos?
Tether will not have Juventus: a bold offer, a clear rejection
Tether, the issuer of the USDT stablecoin, attempted to buy back 65.4% of Juventus shares, held by Exor, the Agnelli family company. The all-cash offer included a promise to invest an additional $1 billion to modernize the club. A tempting proposition, but one which was rejected without hesitation by the Exor board of directors.
For Exor, this refusal is explained by a historical attachment to Juventus. Indeed, the “ Old Lady » has been owned by the Agnelli family for over a century. In a statement, Exor reaffirmed its long-term commitment and support for the club's new management. The Tether offer, described as “ unsolicited », did not convince, despite the ambitions displayed by the crypto company.
This rejection highlights a distrust of external players, especially in a sector as traditional as Italian football. For Tether, this is a first failure in its expansion strategy in sport, but which will probably not mark the end of its ambitions.
Tether: which football clubs could succumb to crypto temptation?
Exor's refusal represents a setback for Tether, which saw Juventus as a major entry point into European football. However, other clubs, in financial difficulty, could be more open to investors like Tether. FC Barcelona, in debt, or Inter Milan, in search of stability, could become prime targets.
Some clubs have already taken the plunge into crypto. PSG, Manchester City and others have collaborated with platforms like Socios.com to launch fan tokens. These partnerships show that football is not impervious to financial innovation, even if complete takeovers remain rare. Tether could therefore turn to more receptive clubs or focus on less ambitious collaborations.
Tether (USDT): Juventus' refusal to repurchase could weigh down the stablecoin?
USDT, Tether's stablecoin, is already controversial for its lack of transparency. Could this rejection by Juventus worsen this distrust? Supporters, attached to the history of their club, could take a dim view of an intrusion of crypto into traditional football. For Tether, the challenge is twofold: improve its image and convince fans that crypto can provide added value.
Partnerships with clubs, if done well, could help legitimize USDT. But after this refusal, the task looks more difficult. Juventus fans, in particular, may be reluctant to adopt USDT, out of loyalty to Exor and the Agnelli family. This rejection could therefore have an impact on the adoption of cryptocurrencies in sport, at least in the short term.
Exor's rejection of Tether shows that football remains cautious about crypto in general and stablecoins in particular. However, with clubs in debt and an industry in search of innovation, this alliance could become inevitable. The question remains: at what cost? The debate on the future of cryptocurrencies in sport is far from over.
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