Juventus majority owners, Exor, have reportedly received another bid from a new suitor, this time coming from Saudi Arabia.
The ownership has been dominating the headlines over the past 10 days. It all stemmed from an official bid by the club’s minority owners, Tethor, who tried to acquire Exor’s majority stake.
The cryptocurrency company’s offer was swiftly rejected, with Exor CEO John Elkann reaffirming the Agnelli family’s staunch desire to maintain the club they have owned over the past 102 years.
While it remains to be seen if Tethor will launch a new onslaught in the future, their audacious attempt may have opened the eyes of other investors.
According to Tuttosport via JuventusNews24, Saudi investors launched a ‘monstrous’ offer to buy Exor’s majority shares in the club.
John Elkann (Photo by Joe Portlock/Getty Images)
The unnamed Arabian group reportedly placed €2 million on the table. It should be noted that Exor owns approximately 65% of Juve’s overall shares.
Nevertheless, the Turin-based newspaper reveals that, like Tethor, the Saudis were also rebuffed, as Elkann and the rest of the family are determined to preserve their ancestors’ legacy at Juventus.
Despite all the rumours and speculations regarding Elkann’s lack of interest in Juventus, it appears that selling the club isn’t on his agenda.
After all, the Italian businessman wouldn’t want to be labelled as the person who put an end to a 102-year-old legacy.
Elkann might not be the most popular figure among the club’s supporters, as many accuse him of prioritising Ferrari and his other holdings above Juventus. Nevertheless, Exor have often tended to the Old Lady’s needs through numerous capital increases that kept the finances afloat, especially during the troublesome post-COVID era.
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