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Tether Boosts Stake in Juventus to Over 10%
The stablecoin issuer first invested in the Italian football club back in February, and has now raised its stake in it.
What to know:
- Tether has raised its stake in popular European football club Juventus to over 10%.
- The move raises its total voting rights to 6.18% and comes as the stablecoin giant invests in various sectors.
- Tether signaled it may support Juventus with future capital raises.
Tether, the issuer of the world’s largest stablecoin, has raised its stake in the Juventus Football Club to over 10% after expanding its stake in the Italian giant earlier this month.
This latest move gives Tether Investments S.A. de C.V., the firm’s investment arm, 6.18% of voting rights. That cements Tether as a significant shareholder and hints at deeper involvement in the governance and financial future of one of Europe’s most storied sports institutions.
STORY CONTINUES BELOW
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Juventus, founded in 1897 and with 36 league titles to its name, is a major club in Italian and European football. Tether originally acquired an 8.2% stake in the club back in February.
Tether’s CEO Paolo Ardoino described the deal as more than a financial investment. “We believe Juventus is uniquely positioned to lead both on the field and in embracing technology that can elevate fan engagement, digital experiences, and financial resilience. We’re excited about the opportunities ahead,” Ardoino said.
The company also expressed willingness to join future capital infusions to “help strengthen Juventus’s financial foundation and avoid dilution of its position. “
The stablecoin giant, which reported $13 billion in profit last year, has been investing in a number of sectors. These include artificial intelligence, bitcoin mining, and agriculture.
Shares of Juventus are up more than 2.7% to 3.2 euros ($3.65) as of the time of writing.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
