Exor, the holding company of Juventus Football Club, announced on Saturday that its board of directors unanimously rejected Tether's offer to acquire a 65.4% controlling stake in Juventus for €2.66 (approximately $3.12) per share. This offer valued Juventus at slightly over €1 billion (approximately $1.17 billion). If the acquisition had been successful, Tether would have launched a full takeover bid for the remaining shares and planned to invest up to €1 billion (approximately $1.1 billion) additionally to support the club's development. Exor CEO John Elkann stated, "Juventus, our history, and our value are not for sale." Exor reiterated its intention not to sell any of its Juventus shares to any third party. Tether has increased its stake in Juventus to over 10% since February and successfully nominated Francesco Garino to its board last month.