By Andrea Caropreso
Index
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The crypto giant Tether is becoming increasingly relevant within the Juventus world.
The company, known for its work with Bitcoin, has purchased another block of shares in the Bianconeri club, becoming its second-largest shareholder. As a result, Juventus’ ownership structure is set to be reshaped. Exor, the holding company of the Agnelli-Elkann family, still holds the majority with 78.9% of voting rights and 65.4% of capital. As of a few hours ago, Tether has become the second-largest investor, with 6.18% of voting rights and 10.12% of capital.
Who is Tether
Tether is a leading company in the cryptocurrency sector, best known for issuing stablecoins pegged to major global currencies. Its flagship product, USDT, has reached a market capitalization of over $145 billion, with funds primarily invested in secure, short-term assets.
In 2024, the group led by Italian Paolo Ardoino posted profits of $13 billion. Beyond core crypto activities, Tether has expanded into strategic sectors such as energy, Bitcoin mining, and internet infrastructure. Among its notable investments is a significant stake in Rumble, a U.S.-listed alternative video platform to YouTube.
Today, Tether stands as the most economically influential player in the crypto world and continues to expand its reach by exploring new financial and commercial opportunities—even beyond the digital currency space.
Scenarios with Juventus
This new openness by Juventus to welcome new shareholders could lead to various developments. As highlighted in Tether’s official announcement, the synergy represents a long-term investment from the crypto company. And capital is certainly not an issue for the giant—at a time when Juventus is seeking stability, the entry of wealthy and committed investors is more than welcome.
Following the announcement, the club’s stock saw an immediate rise. Juventus’ financials had already shown signs of recovery in recent months, as reflected in the first half of the 2024/25 fiscal year, which closed with a profit of €16.9 million after years of losses (the previous year saw a €95 million deficit).
This season, Juventus also faces the risk of missing out on Champions League qualification, which would create a €50 million gap in the budget. Until recently, only two solutions were on the table: selling a top player or recapitalizing. With Tether’s acquisition of shares, both scenarios might now be avoided. The crypto giant appears ready to provide the necessary funds to stabilize the club’s finances, with the ultimate goal of also joining its governance.
What changes for Juventus
In practical terms, what will change for Juventus is the arrival of a partner that can be relied upon in multiple ways. Tether will bring increased financial support, corporate stability, innovation, potential governance changes, and a boost in the club’s value. All objectives are shared with the Agnelli-Elkann family to relaunch the Juventus model globally after a few challenging years.
Of course, some might raise concerns that the century-long family legacy could be diluted. However, today—perhaps more than ever—top-tier clubs need external funding to remain competitive. Tether’s entry might just mark a new beginning. While there had been rumors of a possible future sale by Exor (and thus the Agnelli-Elkann family), those were quickly denied. Still, things in football can change quickly…
By Andrea Caropreso
