Tether, the stablecoin issuer that has spent years deflecting questions about its reserves while maintaining a $120 billion market capitalization, has apparently decided that owning a piece of one of Europe’s most storied football clubs represents a logical diversification strategy.
Tether pivots from dodging reserve audits to collecting football trophies—apparently diversification now means buying Serie A instead of answering questions.
The company has methodically increased its stake in Juventus FC to approximately $149 million—roughly 10.7% of the Turin-based club’s share capital—making it the second-largest shareholder behind the Agnelli family’s Exor holding company.
This €128 million initial investment, executed in early 2025, represents the first major instance of a cryptocurrency firm becoming a top-tier investor in a prominent European football franchise. Yet Tether‘s ambitions extend beyond passive ownership; the company is aggressively pursuing a seat on Juventus’ Board of Directors, expressing frustration over what its CEO characterizes as limited dialogue with both the club and Exor regarding board involvement.
The dynamics here illuminate the peculiar intersection of crypto wealth and traditional European sports governance. While Tether holds substantial financial leverage as the club’s second-largest stakeholder, the Agnelli family maintains ironclad control through Exor’s commanding 65.4% stake—a position they’ve held for nearly a century. Paolo Ardoino continues to lead Tether’s strategic initiatives as the company navigates these complex ownership dynamics.
This structure allows minority investors like Tether to acquire meaningful positions without threatening established power hierarchies, though it raises questions about whether meaningful board influence is achievable. The timing of Tether’s aggressive pursuit coincides with Juventus posting a devastating $230 million loss between 2023 and 2024, suggesting the crypto firm may view the club’s financial distress as an opportunity to expand its influence.
Juventus has scheduled a pivotal meeting post-Club World Cup in July 2025 to address Tether’s board seat proposal, with Exor wielding decisive authority over the outcome. The public listing model facilitates such cross-sector investments while preserving majority control, creating an intriguing test case for crypto integration into legacy sports business models.
Tether’s move signals broader institutional cryptocurrency adoption beyond digital assets, potentially paving the way for other blockchain-backed firms to pursue sports franchise investments. This development aligns with the growing trend of institutional adoption driving cryptocurrency market expansion as the industry evolves from speculation toward practical applications.
Whether this represents shrewd diversification or an expensive experiment in sports governance remains to be seen, though the company’s willingness to deploy nearly $150 million suggests serious conviction in the strategy’s merits—or at least confidence in its ability to generate sufficient returns from Turin’s green and white coffers.
