- Tether acquired 10.7% of Juventus for €128 million but remains excluded from club governance by majority holder Exor.
- CEO Paolo Ardoino seeks a board seat and calls for modernization using AI and blockchain technologies.
- Tether’s broader investments in media, farming, and AI reflect its push beyond crypto into sports and traditional industries.
Tether, issuer of the USDT stablecoin, has emerged as the second-largest shareholder of Italian football club Juventus, after building a 10.7% stake valued at approximately €128 million. The crypto firm announced its initial investment in February 2025 and completed the accumulation by April.
Despite the significant holding, Juventus and its majority owner Exor have largely shut out Tether from club governance. “Very, very limited” communication exists between the parties, according to Tether CEO Paolo Ardoino. He said the company has repeatedly requested meetings to discuss the future of the club but received no response. Juventus has deferred talks until after the Club World Cup ends in July.
Tether’s stake was acquired publicly, meaning it didn’t involve direct negotiation for board representation. Still, Ardoino believes the holding justifies influence over key decisions. “We first want to understand how or if there is space for collaboration,” he said. “Before taking any other step, it would be nice to try to find a way to meet on common ground.”
Exor Holds Control as Juventus Weighs Capital Raise
Exor, the holding firm of the Agnelli family, owns 65.4% of Juventus and has controlled the club for over a century. Juventus expects to post an €18 million loss in its next financial report and may raise up to €100 million to fund new player acquisitions and cover losses. Exor has committed €15 million to preserve its majority stake in any potential raise.
Tether, holding $156 billion in assets including $115 billion in U.S. Treasuries, sees itself as a long-term partner. However, it remains locked out of strategic discussions.
“Our interest is in ensuring the long-term success of the club,”
a Tether spokesperson said.
Tether’s frustration also stems from the way the Italian football ecosystem resists modernization. Ardoino, a lifelong Juventus fan, said Italian football remains “rooted in tradition” and trails clubs like Manchester United or PSG in treating football as a scalable global brand.
Tether Expands Beyond Crypto as It Eyes Influence in Football
Founded in 2014 and now headquartered in El Salvador, Tether has grown beyond its crypto origins. The firm recently acquired a 30% stake in Italian media company Be Water and is investing in sectors like farming, AI, and brain-computer interface technology.
Tether believes Juventus could benefit from this cross-sector experience. Ardoino highlighted AI as a tool for scouting talent, optimizing performance, and connecting directly with fans. Still, without a seat at the table, the firm says its ability to contribute remains blocked.
Ardoino and Tether chairman Giancarlo Devasini have both supported Juventus since childhood. Despite this emotional link, the firm is reassessing whether it will purchase more Juventus shares.
“We are here to help, simple as that,”
Ardoino said after attending matches anonymously this season.
“I really come with the hat in my hand, I don’t expect any favors.”
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