Juventus Football Club shares jumped after stablecoin issuer Tether’s €1.1 billion takeover bid was rejected, while the club’s fan token (JUV) experienced a sharp decline.
JUV initially climbed above $0.85 on Sunday evening, its highest level since early November, but fell more than 13% to below $0.74 by Monday morning in Europe, according to CoinGecko data.
In contrast, Juventus’ publicly listed shares surged over 14% to €2.50 on Monday, reacting to the news of Tether’s all-cash proposal and its rejection by controlling shareholder Exor.
Tether, which operates the USDT stablecoin, offered the bid at a 21% premium, valuing Juventus at €1.1 billion. The proposal represents one of the largest crypto-backed attempts to acquire a professional sports club.
The company is already Juventus’ second-largest shareholder with an 11.53% stake. It sought to buy Exor’s 65.4% holding at €2.66 per share, according to a letter seen by Bloomberg. Exor, the Agnelli family-controlled holding company that also owns Stellantis, 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 continue to expand their sports presence, investing $568 million in sponsorships for the 2024–2025 season—a 20% increase year-over-year—with soccer accounting for nearly 60% of deals, according to SportQuake.
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