Tether invested in Juventus, Italy’s most successful football club, in February, 2025, taking an 8.2% stake. Since then, the buying has continued, with the stablecoin giant now holding over 11% of total Juventus shares and 7% of voting rights.
Since Tether’s original investment, however, Juventus’s stock is down over 30%.
Tether pushed for total ownership of “The Old Lady” after acquiring its initial shares, but majority owner Exor unanimously refused to sell.
Despite this, the world’s largest stablecoin has gotten something in return for its substantial purchase.
Read more: What the Tether audit means for the crypto industry
Director Garino enters the picture
While it may appear as though Tether invested heavily in Juventus without any reward, the reality is far more bizarre.
In return for its over 11% stake in the club, Tether was able to get one of its nominees, Francesco Garino, appointed to the board of directors.
Tether described Garino as “a true Juventino DOC for 50 years,” but it’s more intricate than that.
When La7, a private Italian media company, reached out to Garino, he described himself as “Tether’s trusted man,” adding that he’d known Giancarlo Devasini, the CFO of Bitfinex and co-owner of Tether, for “50 years, since we were children.”
A game of attrition
The fact that Juventus’s stock price is going down may actually benefit Tether.
As minority shareholders, it has room to call out the mistakes and missteps of majority shareholder Exor, and eventually wrest control.
Juventus currently sits seventh in Serie A and outside the qualification spots for any major European competition, with three wins, one draw, and a loss.
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