Tether acquires minority stake in Italian football club Juventus
Key Takeaways
- Tether has acquired a minority stake in Juventus Football Club, marking its first entry into professional sports ownership.
- The acquisition is part of Tether’s strategic diversification beyond its core stablecoin business, expanding into technologies like AI and biotech.
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Tether, the company behind the world’s largest stablecoin, USDT, said Friday the firm has taken a minority stake in Juventus Football Club S.p.A. (Juve), a renowned football club with a rich history of domestic and international success. The move marks Tether’s entry into professional sports ownership.
The investment comes as Tether expands beyond its core business of USDT with a market cap exceeding $140 billion and more than 400 million users across emerging markets. The company has been diversifying into the AI, Bitcoin mining, and biotech sectors.
“Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape,” said Paolo Ardoino, CEO of Tether.
The investment, made through Tether’s investment arm separate from its stablecoin reserves, builds on the company’s existing sports initiatives. Last year, Plan ₿, founded by Tether and the City of Lugano, became the sole kit sponsor of FC Lugano in the Swiss Super League.
Juventus, founded in 1897, is Italy’s most successful football club and one of the most decorated and important clubs globally. The team has won 36 Italian League Championships, including a record of nine consecutive titles between 2011 and 20201.
Juventus is also recognized as the first club in the history of European football to have won all three major UEFA competitions.
Tether is collaborating with industry figures including Juan Sartori, who brings experience from Sunderland AFC, AS Monaco Football Club, and the European Club Association, to develop its sports industry strategy.
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