Cryptocurrency firm Tether said Friday it had submitted a bid to Juventus's main shareholder, Exor, to acquire its entire stake in the Turin football club -- but was quickly rebuffed.

"Juventus is not for sale," said a source close to Exor, the holding company of the Agnelli family, which has controlled the club since 1923.

Tether, which already has an 11.5-percent stake in Juventus, said in a statement that it "has submitted a binding all cash proposal to Exor to acquire its entire stake".

Exor currently has a 65.4 percent stake in the club.

Tether offered 2.66 euros a share, valuing the company at 1.1 billion ($1.3 billion), according to the ANSA news agency.

Juventus shares closed at 2.19 euros Friday on the Milan stock market.

Amid rumours of a possible Saudi investment, Exor had

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