Tether, best known for its USDt stablecoin, has acquired a significant 10.7% stake in Juventus Football Club, valued at approximately €128 million, making it the club's second-largest shareholder after Exor. This investment represents a strategic shift as Tether seeks to have a deeper influence on the football club's governance.
While Tether currently controls about 6.18% of voting rights through this stake, it is pushing for a seat on Juventus' board of directors to participate in strategic decisions. Despite efforts, Tether has yet to receive approval from Juventus and Exor, with discussions planned after the Club World Cup in early July. Paolo Ardoino, CEO of Tether, has publicly expressed disappointment over the lack of inclusion.
Beyond the investment, Tether aims to integrate digital assets into the sports industry, potentially innovating traditional sponsorships and operational approaches. The company is also expanding its crypto ecosystem by investing in other ventures like Orionx in Latin America and launching Tether AI, focusing on privacy and decentralization through artificial intelligence.
This acquisition could redefine interactions between technology and sports, though it currently has no immediate impact on Tether's existing stablecoin or DeFi platforms. Industry observers are monitoring the situation, as the move could trigger regulatory scrutiny or inspire similar crypto investments in sports franchises.