Tether Increases Juventus Stake to Over 10%, Solidifying Role as Major Shareholder
Tether, the issuer of the world’s largest stablecoin, has raised its stake in Juventus Football Club to more than 10%, further cementing its position as a significant shareholder in the storied Italian club.
The latest acquisition brings Tether Investments S.A. de C.V., the company’s investment arm, to 6.18% of the club’s voting rights. This development indicates Tether’s increasing involvement in the financial and governance aspects of Juventus, a team with 36 league titles and a prominent place in European football history.
Tether originally purchased an 8.2% stake in the club back in February, and the new investment underscores the firm’s long-term commitment to Juventus’s future.
Paolo Ardoino, CEO of Tether, emphasized the strategic nature of the partnership. “Juventus is uniquely positioned to lead the way in integrating technology and enhancing fan engagement, which will strengthen its financial resilience,” Ardoino said. “We’re excited about the path forward and the opportunities it presents.”
Tether has also expressed its readiness to support future capital raises to help bolster Juventus’s financial foundation and safeguard against dilution of its stake.
The company, which posted a $13 billion profit last year, continues to diversify its investment portfolio, with interests in sectors like AI, bitcoin mining, and agriculture.
Juventus shares have seen a boost of over 2.7%, trading at 3.2 euros ($3.65) as of the latest update.
