The saga surrounding Tether’s bid for Juventus appears far from over. Despite Exor’s swift rejection of the cryptocurrency company’s offer, Tuttosport suggest that Tether has no intention of walking away and is already studying a new proposal to relaunch its pursuit of the club.
Exor’s Quick Refusal
It took less than 24 hours for Exor — the Agnelli family’s holding company — to respond to Paolo Ardoino’s announcement of Tether’s offer. The answer was a firm and unanimous “no”, confirming what many close to the situation had expected. From the outset, it was clear that the proposal stood little chance of success, particularly given John Elkann’s public reiteration of his desire to keep Juventus within the family’s ownership.
Tether’s Determination to Continue
According to reports from the United States, Tether fully anticipated the initial rejection but remains determined to continue the process. The company’s management reportedly sees this as only the beginning of a longer negotiation. In such situations, there are only two ways forward — walk away or press on — and Tether appears to have chosen the latter.
Even as Elkann reaffirmed the family’s emotional and historic bond with Juventus, indicating no openness to selling “to Tether or anyone else”, the prospective buyers are exploring a revised offer that could bring them closer to the club’s true valuation.
Silence from Both Sides
Following Exor’s refusal, Ardoino, who had announced the initial offer publicly on X, has remained silent. For now, there has been no follow-up statement or reaction from Tether to Elkann’s remarks. Inside Juventus, the situation is being monitored with cautious interest, as the American-based company is expected to reveal its next move in the coming weeks — privately or through a new public statement.
A Higher Offer Needed
If Tether genuinely intends to relaunch its bid, a substantial improvement will be required. The initial proposal valued Juventus at around €1.1 billion in equity and €1.4 billion including debt — figures well below market estimates, which place the club’s worth at closer to €2 billion.
Whether the parties will sit around the table again remains uncertain, but one thing is clear: Tether’s attempt to buy Juventus has created waves in both business and football circles. The coming months will reveal whether that noise turns into a real negotiation — or simply fades away.
