Cryptocurrency firm Tether has acquired a minority stake in Serie A side Juventus in a rare move involving a digital asset brand investing in a major professional soccer club.
The terms of the deal have not been disclosed, but a Tether spokesperson told Front Office Sports that the company was obligated to announce its stake publicly “when it crossed five per cent of voting rights”.
According to Reuters, Tether did not acquire any shares from Exor, the investment company run by Italy’s Agnelli family, which holds a 64 per cent controlling stake in Juventus.
Tether, which is headquartered in El Salvador, said in an official announcement that the aim of the investment is to deliver ‘a sports-digital asset synergy at a new level’.
News of the deal on 14th February resulted in Juventus shares jumping as much as 4.7 per cent before closing on Friday at €2.53 (US$2.65), an increase of 1.56 per cent.
Tether has acquired its stake in Juventus through its investment arm, which it said is now looking at strategic investments in sports franchises around the world and integrating its digital assets, payments and AI and biotech expertise into the sports industry.
Uruguayan businessman Juan Sartori, who is a co-owner of second-tier English soccer club Sunderland and previously served as vice president of French side AS Monaco, is the first member of an advisory team that will support Tether’s expansion into sports.
“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,” said Tether chief executive Paolo Ardoino. “We will explore avenues for innovative collaborations and the potential to revolutionise the global sports landscape.”
Tether is the issuer of USDT, the largest stablecoin in the world, which has a market capitalisation of more than US$140 billion and over 400 million users, the company said.
Stablecoins are designed to maintain their value relative to a traditional government-issued currency, meaning in theory that they are less susceptible to price swings than other cryptocurrencies.
Last year, Tether generated net profits of more than US$13 billion as it made strategic investments in areas like renewable energy, AI, telecommunications and education, while it also pumped US$775 million into video-sharing network Rumble.
While cryptocurrency firms have made significant investments in sports sponsorship in the past, this is one of the first instances where a digital asset brand has acquired a stake in a European soccer team.
Tether already has a minor involvement in sport through its Plan ₿ initiative, which Tether established in partnership with the City of Lugano to accelerate the use of bitcoin technology in the hope of transforming the city’s financial infrastructure.
Plan ₿ subsequently became the exclusive shirt sponsor of Swiss Super League side FC Lugano in October last year as part of a partnership that allows fans to purchase tickets, merchandise and refreshments using bitcoin, USDT and LVGA tokens.
Tether’s investment in Juventus comes amid a challenging financial period for the club, which reported a €199.2 million (US$208.8 million) loss for 2023/24.
That came after Juventus were banned from European competition after being found guilty of false accounting and market manipulation following an investigation that also saw the club’s full board of directors resign, including president Andrea Agnelli.
Juventus have been receptive to crypto in the past, partnering with fan token platform Socios.com in 2018 and Zondacrypto, their sleeve sponsor, in 2024.
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