Tether, the issuer of USDT stablecoin, shared today that it is planning to put forward its own list of people to join the board of Juventus, a football club in which Tether acquired 10.7% stake. The club will take plans during the club’s annual shareholder meeting on November 7, according to Reuter’s report.
Tether became the second-largest shareholder of Juventus earlier this year after buying a 10.7% stake worth about $149 million on February 14, 2025. The deal at the time was the first major time a European club had a cryptocurrency company as one of its top investors.
The club’s main owner, Exor, which belongs to the Agnelli family, has managed Juventus for nearly a century and holds 65.4% of the shares.
Tether’s CEO, Paolo Ardoino, said in July that communication between Tether, Juventus, and Exor has been limited. “We first want to understand how or if there is space for collaboration,” Ardoino said. “Before taking any other step, it would be nice to try to find a way to meet on common ground.” Hopefully, this meeting will open the door for more engagement between the parties.
Tether Eyes Bigger Role and Governance Changes
The upcoming meeting in Milan will include a shareholder vote to renew the company’s board. Tether said it would also suggest some governance changes at the meeting but it did not disclose any details. In addition, the company is also planning to take part in a capital increase worth up to €110 million ($129 million) proposed by Juventus last month to reduce losses and raise funds for operations.
Juventus, despite being one of Europe’s most famous football clubs, has been facing financial problems in the last 3 years after reporting €199 million loss from 2023 to 2024. This year, the club is expecting a financial loss of around €18 million. The club’s management hopes that new investment will help it stabilize and focus on better results both on and off the field.