Once upon a time, Juventus, the old lady, was supreme in Serie A and asserted itself in Europe. Cristiano Ronaldo chose Juve, as the Ballon d’Or winner was to choose the next club after Real Madrid. Then came the fall. For far too many years, chaos has reigned, both in the boardroom and in the sport. After nine consecutive Serie A titles leading up to the 2019/20 season, no league trophies have been rushed to Turin. Now it will be a fresh effort to regain the position.
Cryptocurrency company Tether confirms it has made a binding bid to buy Exor’s entire stake in Juventus, and is ready to invest one billion euros in the club if the deal goes through. The company confirms in an official statement that it has made a binding cash offer to Exor to buy the investment company’s entire stake in the Serie A club.
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The acquisition will – if approved – be followed by a public offer for the remaining shares in the club at the same price, the company writes.
The crypto company’s CEO Paolo Ardoino highlights the Serie A club’s discipline, ambition, and ability to rise from adversity as key reasons for the venture.
-Juventus has always been a part of my life. I grew up with the club. As a boy, I learned what commitment, resilience and responsibility mean by watching Juventus face both success and adversity with dignity. These lessons have stayed with me long after the final whistle,” Ardoino said, according to Tether’s statement.
Tether bought into Juventus in February and in April reached more than ten percent of the shares. Now the company is seeking full control of Exor’s stake of 65.4 percent of the club’s share capital. The agreement requires Exor’s acceptance and necessary regulatory approvals before Tether can proceed with the planned public offering of the remaining shares.
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Then we will see if Juventus fan Ardino, who has learned from Juve as a boy, can also bring something back that the club has been missing.
