Juventus owners publicly rejected a €1 billion ($1.2 billion) buyout offer from cryptocurrency firm Tether on Saturday, ensuring the record 36-time Italian champions remain under Agnelli family control. John Elkann, chief executive of Exor, the family\'s holding company, announced the decision in a video message posted on Juventus\' website.
Tether, the El Salvador-based cryptocurrency firm, made the offer for the Agnelli family\'s majority shares in the Serie A club. The bid represented one of the largest proposed takeovers in Italian football history.
\"Juventus, our history and our values are not for sale,\" Elkann said. \"Juve has been part of my family for 102 years.\"
Elkann, grandson of Fiat tycoon Giovanni \"Gianni\" Agnelli, emphasized the family\'s century-long stewardship of the Turin club. Four generations of the Agnelli family have controlled Juventus through successful periods and challenging times.
Exor issued a formal statement reaffirming it has no intention of selling shares to any third party. The holding company described Juventus as a \"storied and successful club\" and pledged continued support for the new management team.
Juventus have not won Serie A since capturing nine consecutive titles between 2012 and 2020. The club fired Igor Tudor and appointed Luciano Spalletti as manager last month following a difficult start to the season.
\"It\'s a pleasure once again to feel the strength and passion of John Elkann and his family for this club,\" Spalletti said during a news conference ahead of Sunday\'s match at Bologna.
Juventus and Napoli, owned by Italian film producer Aurelio De Laurentiis, are the main Italian-controlled clubs among Serie A\'s elite. AC Milan, Inter Milan, and Roma are owned by foreign investment firms.
Former Juventus president Andrea Agnelli and the club\'s entire board resigned in 2022 amid a false accounting inquiry.
Via ESPN