TLDR
- Tether plans to propose a list of new board candidates for Juventus ahead of the November 7 shareholder meeting.
- The company will invest approximately $129 million into Juventus as part of a capital increase.
- Tether currently holds a 10.7 percent stake in the football club, having increased its investment in April.
- The Juventus board previously resigned in 2022 following allegations of financial fraud related to players’ salaries.
- Tether’s CEO Paolo Ardoino said the company remains committed to long-term collaboration and innovation in the club.
Tether will reportedly propose new board candidates for Italian football club Juventus ahead of a meeting on November 7. The stablecoin issuer also plans to invest $129 million into the club through a capital increase. Tether currently holds a 10.7% stake in Juventus, reflecting its growing influence in European football governance.
Tether Moves to Influence Juventus Leadership
Tether aims to introduce governance reforms and suggest a list of board candidates for Juventus, according to a Reuters report. The company intends to present its slate before the November 7 shareholder meeting. This action follows months of investment and strategic positioning within the football club.
Juventus has faced governance instability in recent years due to allegations of financial misconduct. In November 2022, its entire board resigned amid an investigation into salary-related fraud. Former chairman Andrea Agnelli and two other executives accepted suspended sentences after reaching plea deals.
Tether reportedly seeks to restore confidence in Juventus by focusing on transparency and long-term stability. CEO Paolo Ardoino emphasized the importance of oversight. “We are committed to building sustainable value and better governance,” he said.
Tether raised its stake in Juventus to over 10% in April, citing a desire for innovation and collaboration. The move aligns with the company’s broader European strategy and growing business interests in Italy. It initially entered the club’s ownership structure in February.
In May, Tether acquired a 30% stake in the Italian media firm Be Water. Ardoino described the investment as a step toward supporting independent journalism. The company continues to diversify its presence across sectors beyond cryptocurrency.
In parallel, Tether announced a $775 million investment in Rumble in December 2024. In August, it joined Rumble in a proposal to acquire Northern Data’s AI and computing units. That deal is valued at over $1 billion.
Stablecoin Milestones and Global Reach
Tether marked the 11th anniversary of its stablecoin, USDT, while planning its board for Juventus. USDT remains the largest stablecoin with a market cap above $177 billion. Meanwhile, A7A5, a ruble-backed token, became the top non-USD stablecoin at $500 million.
Tether has gained influence through regulation and policy, as well. Ardoino attended the GENIUS stablecoin bill signing under former President Trump. The CEO has recently developed closer ties with U.S. policymakers.
