The Agnelli family has rejected a surprise offer from crypto group Tether to acquire Serie A giants Juventus, valuing the Turin-based club at €1.1 billion.

The bid, announced on Saturday (13 December), came as a shock to the market and sparked speculation that a higher offer could follow.

Juventus, Italy’s most successful football club with 36 Serie A titles, has struggled since its ninth consecutive championship in 2020, currently sitting fifth in the league table.

Shares in the club have fallen 57% over the past five years, according to LSEG data. Ownership of Juventus has historically bolstered the Agnelli family, founders of carmaker Fiat, in Italy, raising their profile and influence.

Tether, led by Italian Paolo Ardoino and a long-time Juventus supporter, has built a stake exceeding 10% in the club.

The El Salvador-based crypto issuer said it was prepared to invest up to €1 billion to support Juventus’ sporting and commercial ambitions.

However, the family’s holding company, Exor, emphasised it has no plans to sell any of its shares.

The proposed deal arrives at a complex moment for the Agnellis.

They are in talks to sell GEDI, the publisher of La Repubblica and La Stampa, a move that has prompted strikes and job concerns.

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