Tether Holdings revealed on Friday that it sent a binding all-cash proposition to Exor, a Dutch-based worldwide financial investment holding business managed by Italy’s Agnelli household, to get its whole stake in Juventus Football Club
The proposition covers Exor’s 65.4% shareholding in Juventus, and Tether has actually provided a EUR1 billion ($ 1.17 billion) financial investment if the acquisition is finished.
Juventus A ‘Part Of My Life’: Tether CEO
El Salvador-based Tether (CRYPTO: USDT), best understood for its USDT stablecoin, prepares to money the deal with its own capital.
Paolo Ardoino, CEO of Tether, stated, “For me, Juventus has actually constantly become part of my life. I matured with this group. As a kid, I discovered what dedication, strength, and duty suggested by enjoying Juventus face success and misfortune with self-respect.”
Following the statement, Juventus’ fan token, JUV, rose by 30%.
The club is among Europe’s many popular football groups, and if this offer is finished, it would mark the first-of-its-kind, where a crypto company takes control of a significant sports club.
According to a Bloomberg report, nevertheless, the Agnelli household is not preparing to offer.
Independently, Tether is pursuing a $20 billion capital raise at an assessment near $500 billion while weighing share tokenization.
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