Juventus has launched a capital increase of approximately €110 million, with cryptocurrency firm Tether poised to participate, escalating its stake in the storied Italian football club. The move comes as Tether, already the second-largest shareholder behind the Agnelli-Elkann family’s Exor holding, continues to publicly express interest in acquiring full ownership of Juventus.
The capital increase provides Tether, which initially entered Juventus in February with a 5% share and has since risen to 11.5%, an opportunity to further solidify its position. The company has formally requested a seat on the board of directors and the right to subscribe to the full €110 million offering. This development intensifies a shareholder dynamic with Exor,which has repeatedly stated its unwillingness to sell its shares.
Tether’s CEO,Paolo Ardoino,has openly stated his ambition to purchase the club,saying,”I’d like to buy it,” though he acknowledges that negotiations are currently stalled due to Exor’s lack of interest in selling. at the recent Juventus shareholders’ meeting, Tether secured its first board seat, electing Francesco Garino, an orthodontist, as a director.
The investment underscores the growing intersection of cryptocurrency and traditional sports, and signals Tether’s intent to leverage the Juventus platform to expand its reach within the global sports market. The outcome of this shareholder battle and Tether’s future investment strategy will be closely watched by both the financial and sports industries.