Tether Now Holds Second-Largest Stake In Juventus, Board Seat Demand Grows

Tether, the well-known USDC stablecoin issuer, made news in February when it invested in Juventus, one of Italy’s top football clubs. However, four months later, the relationship has not progressed as expected. Although Tether now owns a large share in the club, the company said it is not involved in key discussions and is demanding a seat at the board level. Lack of Communication Worries Tether Before this year, no major European football club had a crypto company as a top shareholder. That changed when Tether bought shares in Juventus, reaching a 10.7% stake by April. This stake is now worth about €128 million. Tether is now Juventus’s second-largest shareholder, behind Exor NV, a holding company owned by the Agnelli family. The stablecoin issuer wants a seat on the Juventus board and hopes to participate in future capital raises. Tether’s CEO, Paolo Ardoino, says he is interested in the club’s long-term success and believes it can add value. However, Juventus has not responded directly to these requests. While Tether has sent letters asking for meetings, no dates have been confirmed. Juventus has said it will consider meeting after its Club World Cup campaign in the United States ends in July. Different Backgrounds, Different Expectations Juventus is backed by Exor, the investment firm owned by Italy’s Agnelli family. The family has managed the club for over a century and holds major stakes in companies like Ferrari and Stellantis through Exor. In contrast, Tether is a much younger company that only recently set up a public headquarters in El Salvador. Although it manages a $150 billion portfolio and reported $13 billion in profits last year, Tether has not published a full audit and has faced regulatory scrutiny in the past. Nevertheless, Tether continues to expand its portfolio beyond crypto. It has invested in many companies in different sectors, including gold firms , artificial intelligence (AI), social platforms, agriculture, and health technology. In a recent statement, Ardoino says the company wants to bring innovation to football. Its leadership believes the sport could benefit from tools like artificial intelligence , especially in talent scouting and club operations. Juventus Football Club Needs Fresh Support Juventus is having money problems and is expected to lose €18 million this year. In March, the club said it may try to raise to €100 million to sign new players and improve its finances. Exor, the main owner, has promised €15 million and is ready to give more to keep its control of the club. Tether is also ready to help with funding, but only if it can be part of the club’s board of directors. So far, the club has not responded clearly, which has made Tether unsure about what to do next. While it still wants to help, it must see that the club is open to working together. The post Tether Now Holds Second-Largest Stake In Juventus, Board Seat Demand Grows appeared first on TheCoinrise.com .

Source: The Coin Rise