Tether Seeks More Active Role at Juventus After Buying Over 10% of Soccer Club
Tether, the issuer of the world’s largest stablecoin, USDT, has significantly increased its stake in Juventus Football Club, aiming for a more active role in the Italian club’s management. Holding over 10% of Juventus, Tether is now the club’s second-largest shareholder, trailing only Exor, the Agnelli family’s holding company which owns 65%. This substantial investment follows a gradual acquisition process, beginning with an 8.2% stake purchase in February and expanding to over 10% in April.
Tether’s ambition extends beyond mere investment; the company actively sought greater involvement in Juventus’s operations. In May, Tether formally requested participation in a recent capital increase and a seat on the club’s board of directors. While these initial requests were not immediately granted, Tether confirmed that further discussions are underway to schedule a new meeting and explore alternative avenues for collaboration.
Juventus, a dominant force in Italian football throughout the 2010s, winning nine consecutive Serie A titles, has undergone a period of rebuilding in recent years. Their performance has fluctuated, with finishes ranging from third to seventh place since their last championship win. Tether’s investment signals a commitment to supporting Juventus’s return to its former glory.
In a statement, Tether expressed its intention to be a “supportive and engaged partner” in Juventus’s future. Recognizing the substantial financial investment needed to build a competitive team, Tether explicitly stated its preparedness to contribute significantly to this effort. This proactive stance suggests a long-term strategy, positioning Tether not just as a passive investor but as a key player in shaping Juventus’s future direction and competitive standing. The news of Tether’s intensified involvement follows earlier reporting by Bloomberg. This development marks a significant entry of the cryptocurrency world into the realm of major European sports team ownership.
