Tether Becomes Minority Shareholder in Juventus

Shares in Juventus F.C, Italy's most successful football club, rose sharply on Friday after cryptocurrency company Tether announced that it had become a minority shareholder in the football giant.

Tether said in a statement on its official website that “it has acquired a minority stake in Juventus Football Club S.p.A., one of the most successful and iconic football clubs in the world”.

The statement did not give the size of its stake.

Italy's Agnelli family controls Turin-based Juventus through their investment company Exor (EXOR.AS), which holds a 64% stake in Italy's most successful club. A spokesperson of the Exor said the holding did not sell any shares to Tether.

Strategic Investment After a Record-Breaking Year

Tether announced that it is making strategic investments in sports franchises worldwide.

Tether's stake in Juventus follows a record-breaking year for the stablecoin issuer. In 2024, the company earned $13 billion in profits as its low-risk US Treasury bonds holdings reached an all-time high of $113 billion.

"Aligned with our strategic investment in Juve, Tether will pioneer 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.

Crypto Investments in Sports

Tether and numerous other cryptocurrency companies have supported a large number of sports clubs in the past period. Tether has already invested in Switzerland's FC Lugano. Tether is also collaborating with leading figures such as Juan Sartori, given his involvement with Sunderland AFC, extensive tenure at AS Monaco Football Club, and the European Club Association.

CoinGecko reports that between 2021 and 2024, there were 92 crypto sponsorships in sports.

Cryptocurrencies companies have thus invested in Formula 1, UEFA Champions League, and NBA teams...