Tether Proposes Board Members for Juventus
Tether, the issuer of the USDT stablecoin, plans to nominate candidates for Juventus’ board. The football club’s annual shareholder meeting is set for November 7. Tether owns a 10.7% stake in Juventus, making it the club’s second-largest shareholder.
Tether acquired this stake on February 14, 2025, for about $149 million. This marked the first time a cryptocurrency company became a major investor in a European football club. The club’s main owner, Exor, controlled by the Agnelli family, holds 65.4% of Juventus shares.
Paolo Ardoino, Tether’s CEO, said communication with Juventus and Exor has been limited. He stated, “We first want to understand how or if there is space for collaboration.” Ardoino hopes the upcoming meeting will improve engagement between the parties.
Shareholder Meeting to Address Governance and Funding
The November meeting in Milan will include a vote to renew Juventus’ board. Tether also plans to propose governance changes but has not shared details. Additionally, Tether intends to participate in a capital increase of up to €110 million ($129 million). This funding aims to reduce losses and support club operations.
Juventus Faces Financial Challenges
Juventus has struggled financially over the past three years. The club reported a €199 million loss from 2023 to 2024. It expects a further loss of around €18 million this year. Management hopes new investments will help stabilize finances and improve performance on and off the field.
