JUV Token Falls 13% After Juventus Rejects €1.1B Tether Takeover
TLDR
- Juventus Fan Token (JUV) dropped more than 13% after Tether’s €1.1 billion takeover bid was rejected.
- Juventus Football Club shares jumped over 14% following Exor’s decision to decline the offer.
- Tether offered €2.66 per share in an all-cash deal, valuing Juventus at a 21% premium.
- Exor controls 65.4% of Juventus and stated it has no intention of selling shares.
- Tether holds an 11.53% stake in Juventus, while JUV trades below $0.74 after the decline.
Juventus Fan Token (JUV) dropped over 13% following the rejection of a €1.1 billion takeover bid by Tether. At the same time, Juventus Football Club’s shares surged 14% after Exor declined the offer. Tether’s proposal aimed to acquire a controlling stake at a 21% premium in an all-cash deal.
Tether’s Bid Rejected by Juventus Owner Exor
As it was reported in our recent news, Tether submitted a €1.1 billion all-cash bid on Friday to acquire Juventus Football Club from majority owner Exor. The proposal offered €2.66 per share, reflecting a 21% premium on Juventus’ last closing price. Exor owns 65.4% of the club and rejected the offer.
Exor released a statement on Saturday, confirming it would not sell any Juventus shares to Tether or any third party. Exor is controlled by the Agnelli family and also holds stakes in Stellantis and Ferrari. The company said it had “no intention of selling any of its shares in Juventus.”
Tether currently holds an 11.53% stake in Juventus and aims to expand its ownership through this acquisition attempt. The proposal, revealed in a letter sent to Exor, underlined Tether’s growing interest in professional sports. Tether operates USDT, the largest stablecoin by market capitalization.
JUV Token Falls While Club Shares Rise
According to a CoinDesk report, the JUV token climbed above $0.85 late Sunday before retreating to under $0.74 by early Monday. This marked a drop of more than 13% within hours following the bid rejection. The token had reached its highest value since early November. In contrast, Juventus shares rallied by over 14% on Monday to reach €2.50 during the trading session.
Market reaction to the takeover news pushed the stock higher after Tether’s proposal surfaced. Investors responded quickly once Exor’s rejection was confirmed. The fan token’s decline showed a contrasting reaction compared to equity markets. Fan tokens often respond differently to news affecting club ownership or business operations. JUV remains a blockchain-based asset for fan engagement, separate from the club’s official equity.
Crypto exchanges have spent $568 million on sports sponsorships for the 2024–2025 season, reports SportQuake. Soccer accounts for nearly 60% of all new sponsorship deals this season. Tether’s move reflected broader efforts by crypto firms to engage in sports ownership or partnerships. As of now, no revised offer or future intention has been disclosed by Tether. Juventus and Exor have made no further public comments. JUV continues trading below $0.74 while Juventus shares maintain gains.
The post JUV Token Falls 13% After Juventus Rejects €1.1B Tether Takeover appeared first on Blockonomi.
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