The Agnelli family, owners of Juventus, rejected Tether’s offer to buy the soccer club at a 21% premium, valuing Juventus at $1.17 billion. Tether, known for its stablecoin USDT, aims to boost credibility in Europe and beyond through the potential acquisition. Exor, the majority shareholder, declined the offer unanimously.

Despite Juventus’ financial struggles and shareholder reshuffling, the Agnelli family remains committed to the club. Juventus, a powerhouse with 36 Italian championships, has faced challenges and controversies, including a recent match-fixing scandal. The potential sale would mark a significant shift for the family, with ties to the club dating back to 1923.

Tether’s USDT stablecoin, with a market cap of $186 billion, aims to maintain stability and credibility through a one-to-one peg with the US dollar. The proposed acquisition of Juventus aligns with Tether’s strategy to expand influence and appeal in Europe. The crypto company’s offer to invest one billion euros in Juventus signals a potential shift in ownership dynamics.

Read more at Yahoo Finance: Juventus ‘not for sale’ say Agnellis, rejecting crypto giant Tether’s bid