Juventus Owners Reject $1.2B Buyout Offer from Crypto Firm

Juventus' owners have publicly rejected a buyout offer from the cryptocurrency firm Tether, valued at approximately one billion dollars, or nearly one point two billion dollars. John Elkann, chief executive of Exor, the holding company of the Agnelli family, stated in a video message on Juventus' website, "Juventus, our history and our values are not for sale." Elkann emphasized the longstanding connection of the Agnelli family to Juventus, noting, "Juve has been part of my family for 102 years." Elkann expressed commitment to supporting the club, stating, "We continue to support our squad and are looking toward the future in order to build a winning Juve." Luciano Spalletti, the newly appointed manager, acknowledged the owners' dedication, saying it was a pleasure to feel their strength and passion for the club.

Exor reiterated its firm stance against selling shares, emphasizing its commitment to Juventus, which has been under its control for over a century. The rejection comes during a challenging period for Juventus, which has not won Serie A since 2020 and recently made managerial changes amid a difficult start to the season.

The entire board of directors resigned in 2022 amid a false accounting inquiry, contrasting with the ownership of other major Italian clubs like AC Milan and Inter Milan, which are owned by foreign investment firms.