Juventus Football Club shares surged after stablecoin issuer Tether’s €1.1 billion takeover bid was rejected, while the club’s fan token (JUV) tumbled.
JUV initially rose above $0.85 on Sunday evening, its highest level since early November, before sliding more than 13% to below $0.74 by Monday morning in Europe, according to CoinGecko.
In contrast, Juventus’ publicly traded shares jumped over 14% to €2.50 following news of Tether’s all-cash offer and its rejection by controlling shareholder Exor.
Tether, the issuer of USDT, offered the bid at a 21% premium, valuing Juventus at €1.1 billion. Already the club’s second-largest shareholder with 11.53%, Tether sought to acquire Exor’s 65.4% stake at €2.66 per share. Exor, the Agnelli family-controlled holding company, confirmed it “has no intention of selling any of its shares in Juventus to a third party, including but not limited to El Salvador-based Tether.”
Crypto exchanges are expanding in sports, investing $568 million in sponsorships for the 2024–2025 season—a 20% year-over-year rise—with soccer accounting for nearly 60% of deals, according to SportQuake.
