Stablecoin Issuer Requested Board Seat at Juventus FC

As well as being issuer of the world’s largest stablecoin, USDT, Tether also owns more than 10% of Juventus FC and is now looking to play a more active role in the running of the Italian soccer powerhouse.

Tether asked to participate in the club’s recent capital increase and be granted a board seat in May, according to an emailed statement from the stablecoin issuer.

“While these requests were not taken up at the time, a new meeting date has since been proposed, and we are currently coordinating with stakeholders to confirm availability or suggest an alternative if needed,” Tether said.

Juventus dominated Italian football throughout the 2010s winning nine consecutive Serie A titles between 2011 and 2020, but has been in a rebuilding mode since finishing between third and seventh in each of the five seasons since their last championship.

Tether increased its stake in I Bianconeri (“The White and Blacks”) to over 10% in April, having bought 8.2% of the club in February. It is now Juventus’ second-largest shareholder. Exor, the holding company of the Agnelli family, owns 65%.

“[Our] intention is to be a supportive and engaged partner in the club’s future,” Tether said. “We recognize that significant investment will be needed to build a competitive squad, and we are prepared to contribute meaningfully to that effort.”

The news of Tether’s requests was previously reported by Bloomberg on Wednesday.