Tether to Propose New Board Members at Juventus After Boosting Stake to Over 10%
- Tether plans to propose new board members at Juventus before the November shareholder meeting.
- The stablecoin firm will invest $129 million to increase its influence in the Italian football club.
- Tether continues to expand beyond crypto with investments in sports media and high-tech companies.
Stablecoin issuer Tether plans to propose new board candidates for Juventus Football Club. The shift is after its recent investment in the Italian football giant. With a 10.7% minority stake, the company seeks control over decision-making on governance in the club.
Tether will present its suggestions before the club’s shareholder meeting scheduled for November 7. Alongside the proposals, the company will contribute $129 million as part of a capital increase. The initiative marks another step in Tether’s push for greater involvement in Juventus’ management.
Tether first invested in the club in February. In April, it raised its ownership to more than 10%. This enabled the company to participate more directly in the internal decision-making process, such as on boards.
Governance in Focus Following Past Scandals
Over the past years, Juventus has been facing governance issues. All the board members resigned in 2022 after a financial investigation. The investigation was associated with salary control and abnormal accounting of player contracts.
Earlier this year, three former top executives accepted plea deals. They included the former chair and two senior leaders. Italian authorities handed them suspended sentences.
These developments left gaps in club leadership and raised questions about oversight. Tether’s proposed changes aim to address these issues ahead of the club’s strategic decisions.
Timing Aligns with Company Milestones
The board candidate announcement came as Tether marked the 11th anniversary of its USDt stablecoin. USDt remains the largest stablecoin in circulation, with a market value of over $177 billion.
The timing highlights Tether’s efforts to expand its influence beyond digital finance. The company has actively pursued investments in sports, media, and technology.
In May, it acquired a 30% stake in Be Water, an Italian media company. The deal underscored Tether’s growing interest in media as a tool for public engagement and influence.
Broader Investment Strategy Takes Shape
Tether’s involvement with Juventus aligns with a broader investment strategy. In December, the company announced a $775 million investment in the video-sharing platform Rumble.
In August, Tether and Rumble offered to jointly acquire Northern Data’s AI and computing assets. The proposal was estimated to be more than 1 billion. The move indicated the expansion plans that Tether had in the technology and infrastructure sectors.
Tether’s leadership also appears to be building ties with U.S. policymakers. The firm participated in the signing of the GENIUS stablecoin bill in July. The event took place during a White House ceremony under the Trump administration.
