Tether attempts to acquire Italian soccer club Juventus, submitting a bid to buy Exor’s 65.4% stake. Juventus has a market cap of 944.49 million euros. However, the bid was reportedly rejected by Exor, stating Juventus is not for sale. Tether promises a $1.1 billion investment in Juventus if the deal goes through.

Tether, the stablecoin issuer, expresses its intention to invest 1 billion euros in Juventus if the acquisition is successful. Tether CEO Paolo Ardoino emphasizes the importance of Juventus in his life and expresses commitment to supporting the club. Tether has been expanding its business beyond stablecoin issuance, investing in AI, robotics, and health platforms.

Tether initially acquired a stake in Juventus in February and increased it to over 10% in April. The company aims to strengthen its influence on the club, nominating its deputy investment chief and another individual to Juventus’ board of directors. The move has been successful, with shareholders approving one of Tether’s nominees to the board.

Read more at CoinTelegraph: Tether Makes Bid to Buy Football Club Juventus