Major cryptocurrency player Tether is pushing for influence at iconic Italian soccer club Juventus. The stablecoin issuer, now the team’s second-largest owner, formally requested a board position and participation in club funding. This move signals Tether’s ambition to actively shape Juventus’s future strategy.
Tether significantly increased its investment in Juventus earlier this year. Starting with an 8.2% stake purchase in February, it boosted its holding beyond 10% by April. Consequently, Tether solidified its status as Juventus’s number two shareholder. Only Exor NV, the Agnelli family’s holding company commanding 65%, holds more power. Tether confirmed its substantial ownership stake publicly.
Formal Requests for Influence Made in May
Actively seeking a role, Tether submitted key requests to Juventus leadership in May. Specifically, the company asked to join the club’s recent capital increase. Simultaneously, Tether formally petitioned for a seat on the prestigious board of directors. These steps clearly demonstrate its desire for operational involvement. “Our intention is to be a supportive and engaged partner,” stated Tether. Furthermore, they emphasised readiness for significant future investment.
Initial Rejection, But Talks Continue
However, Juventus did not immediately grant Tether’s May requests. The club’s leadership initially declined the stablecoin issuer’s proposals. Despite this setback, dialogue remains open. “While these requests were not taken up at the time, a new meeting date has since been proposed,” Tether explained. Currently, the company is coordinating schedules with relevant stakeholders. Alternative dates will be suggested if necessary.
On the other hand, Juventus itself is navigating a crucial period. The Turin-based club dominated Italian football for a decade, winning nine straight Serie A titles ending in 2020. Since then, however, its performance has notably dipped. Juventus finished between third and seventh place in the subsequent five seasons. Because of this, the club is firmly in rebuilding mode, seeking stability and renewed success. Tether’s promised investment could prove vital during this transition.
Financial & Football Tradition
Tether brings immense financial resources to the table. As the issuer of USDT, the world’s largest stablecoin, its backing is substantial. The company explicitly linked its investment to supporting squad rebuilding. “Significant investment will be needed to build a competitive squad,” Tether acknowledged. “We are prepared to contribute meaningfully.” This pledge highlights its potential role in Juventus’s resurgence. Bloomberg first reported these developments earlier this week.
Stakeholder Dynamics
The evolving relationship between Tether, Juventus, and majority owner Exor is now closely watched. Tether’s push for a board seat marks a pivotal moment. Whether the traditional football institution embraces this active crypto investor remains uncertain. Therefore, the upcoming meeting between the parties carries significant weight. The outcome will shape Juventus’s governance and future direction. Fans and investors alike await further developments eagerly.
Written By Fazal Ul Vahab C H
