Crypto Giant Tether makes a bid to acquire Juventus Soccer Club

Stablecoin giant Tether is trying to become the owner of the Italian football club Juventus.

The USDT issuer has submitted a binding cash offer to acquire 65.4% of the club currently owned by Exor – a holding company of the Agnelli family. makers of car brand Fiat. Financial details were not disclosed.

“For me, Juventus has always been part of my life,” Tether CEO Paolo Ardoino said in a statement. “I grew up with this team. As a boy, I learned what commitment, resilience and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.”

In February, Tether acquired a minority stake in the clubwhich plays in Italy’s highest football competition, Serie A.

If accepted by Exor, Tether plans to make a tender offer for the remaining shares at the same price. Should it be successful, the crypto company says it will invest 1 billion euros to support the development of the team.

“Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon,” Ardoino said. “Our aim is to make a positive contribution to the future of the club, to support sporting performance at the highest level and to help Juventus continue to grow sustainably in a rapidly evolving global sports and media landscape.”

The company has maintained an active investment approach and recently joined an $81 million investment round Italian humanoid robotics company. In November it picked up another 1 million shares from video sharing platform Rumble, after it was announced last year would invest $775 million in the YouTube rival.

Tether is is considering tokenizing its shares, This is evident from a Friday report from Bloomberg. The privately held company is reportedly looking to raise $20 billion at a valuation of $500 billion.

A Tether representative did not immediately respond Declutter request for comment.