Tether, the issuer of the USDT stablecoin, has nominated two executives to the board of Italian football club Juventus FC, following its acquisition of a 10.7% stake in the club earlier this year. The nominees are Zachary Lyons, Tether's deputy chief investment officer, and Francesco Garino, a medical doctor and Juventus supporter. This move aims to increase Tether's influence and advocate for better corporate governance and greater minority representation on the board.
The nominations come after Tether made investments in Juventus in February and April 2025, and they will be voted on at the club's shareholder meeting scheduled for November 7, 2025. Tether's CEO, Paolo Ardoino, emphasized the company's commitment to bringing "best-in-class corporate governance" to Juventus, highlighting the need for improved decision-making and transparency.
This initiative follows a period of instability for Juventus, including the resignation of the entire board in November 2022 amid allegations of financial fraud related to player salaries. Former chairman Andrea Agnelli and other executives faced legal consequences, leading to recent leadership changes. Tether has engaged with fans to address concerns and suggestions about the club's management.
Beyond football, Tether is diversifying its investments, including a $775 million investment in video platform Rumble, holdings of 100,000 BTC (valued over $11 billion), and a joint proposal with Rumble to acquire Northern Data, an AI infrastructure company, for $1.17 billion. These efforts are part of Tether's broader strategy to expand its footprint in traditional industries.
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