Juventus shares surged after stablecoin issuer Tether’s €1.1 billion takeover bid was rejected, while the club’s fan token (JUV) fell sharply.
JUV hit $0.85 on Sunday, its highest since early November, before dropping over 13% to under $0.74 by Monday morning, according to CoinGecko.
Meanwhile, Juventus’ publicly traded shares rose more than 14% to €2.50 following news of Tether’s all-cash offer and its rejection by controlling shareholder Exor.
Tether, the issuer of USDT, made the bid at a 21% premium, valuing Juventus at €1.1 billion. Already the club’s second-largest shareholder with 11.53%, Tether aimed to acquire Exor’s 65.4% stake at €2.66 per share. Exor, controlled by the Agnelli family, said 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 expanding in sports, investing $568 million in sponsorships for 2024–2025—a 20% year-over-year increase—with soccer accounting for nearly 60% of deals, according to SportQuake
