Tether acquires minority stake in Italian football club Juventus
Tether leverages its digital asset expertise to innovate within the sports industry.
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 announced Friday it has taken a minority stake in renowned football club Juventus, marking its entry into professional sports ownership. The financial details of the acquisition have not been disclosed.
Tether’s investment in Juventus is part of its ongoing diversification strategy. The firm, best known for its USDT token—the largest stablecoin by market capitalization—has expanded its investment portfolio to include various sectors such as artificial intelligence, Bitcoin mining, biotech, and now sports with its stake in Juventus.
According to the latest data from CoinMarketCap, USDT has a market cap of approximately $141 billion and boasts a user base exceeding 400 million across emerging markets.
“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, also known by the name ‘Old Lady,’ 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 2020. 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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