Tether, the issuer of the USDT stablecoin, has become the second-largest shareholder of the Italian football club Juventus, acquiring 10.7% of the shares for approximately €128 million. Following this significant investment, the company intends to secure a seat on the club’s board of directors.
This is reported by Finway
Tension in Relations Between Tether and Juventus
Despite holding a substantial share, the relationship between Tether and Juventus remains complicated. Four months after the investment, communication between the parties has been “very, very limited,” as emphasized by Tether’s CEO Paolo Ardoino. The club and its main shareholder — the Exor holding company, which owns 65.4% of the shares — have yet to grant Tether the opportunity to influence strategic decisions.
“Our interest lies in ensuring the long-term success of the club. We believe that having a voice in key decisions is part of our responsibility,” Tether stated.
Juventus, historically controlled by the Agnelli family through Exor, is concluding its participation in the Club World Cup in the USA. The club has indicated that a meeting with Tether representatives is only possible after the season concludes, and Exor has promised to reconsider its position after personal negotiations.
Tether’s Plans and Financial Prospects
Tether views the investment as an opportunity to influence the development of the football industry, particularly through the application of innovative technologies, artificial intelligence, and talent analytics. The company also aims to participate in a potential capital increase for the club. In March, Juventus announced a potential fundraising of up to €100 million to support summer transfers, of which €15 million has already been allocated by Exor.
It is worth noting that Tether possesses significant financial resources: in 2024, the company reported a profit of $13 billion and holds assets worth $150 billion, including $115 billion invested in U.S. government bonds. At the same time, the company has yet to publish a complete audit of its financial statements.
Despite this, Tether faces a number of reputational challenges, including allegations of facilitating sanctions evasion and the use of the USDT token in illegal activities. The company emphasizes that it collaborates with law enforcement and supports transparency.
CEO Paolo Ardoino highlighted his support for the club by attending matches as an ordinary fan and stated that Tether does not seek privileges but wants to contribute to Juventus’s development.
Additionally, it is worth mentioning that Tether recently invested over $89 million in shares of the Canadian company Elemental Altus Royalties Corp, indicating the company’s strategy of diversifying its business.