Tether, a prominent cryptocurrency company, acquired a 10.7% stake in Juventus Football Club, enhancing its presence in the sports industry.
Tether's Investment in Juventus
Tether has acquired a 10.7% stake in Juventus for approximately €128 million, positioning itself as the second-largest shareholder after Exor NV. This move signifies a notable entry of a crypto firm into European football.
Limited Communication with Club Management
Despite the substantial stake, Tether faces communication challenges with Juventus management. CEO Paolo Ardoino expressed dissatisfaction with limited interactions, stating, "I had to buy my own match ticket to attend a Juventus game," highlighting the lack of engagement between Tether and the club's leadership.
Tether's Strategic Ambitions
Tether aims for greater involvement in the club's operations and is actively seeking a board seat to exert strategic influence on Juventus's future. Notably, the news of Tether's stake has not significantly affected cryptocurrency markets or stablecoins like USDT.
Tether's investment in Juventus represents a new phase in the integration of the cryptocurrency industry into sports business, suggesting potential financial innovations and closer collaboration in the future.
