Paolo Arduino, CEO of Tether, announced that Tether has officially joined the board of directors of Juventus Football Club SpA, with Dr. Francesco Garino appointed as its representative.
Arduino made this clear in the following way. post The post, written in Italian on He added: “We would like to thank our minority shareholders for supporting our request to participate. This is a necessary first step towards the MJGA!”
Garino is a long-time Juventus supporter and is said to have been born, raised and lives in Turin, the football club’s home base. If appointed, Garino, who is also an experienced orthodontist and well-known in Italy and around the world, is expected to join the club’s board of directors as a direct spokesperson for the fans.
Tether’s investment in Juventus
Tether via Tether Investments’ first acquisition was minority shareholder At Juventus in February this year. “Blockchain technology has featured prominently in professional sports to improve the fan experience, and with Tether’s acquisition of minority ownership in Juve, we hope to bring synergies between sports and digital assets to a new level,” Tether said in a statement.
In April, the issuer of USDT, the largest stablecoin by market capitalization, Buy more Juventus sharesThe investment ratio in the football club is 10.12% of the total number of participants. Voting rights were also raised from over 5% to 6.18%.
He is currently Juventus’ second-largest shareholder, but is still far behind the Agnelli family, the largest controlling shareholder. The Agnelli family owns around 65% of Juventus through their holding company Exor, and has led the club for more than a century, but as Exor’s CEO it appears they have no intention of relinquishing their stake. John Elkann said: That they have no intention of selling.
When Tether was later asked if he wanted to own Juventus outright, Ardoino, who is also a supporter of the club, reportedly said: “You can only buy what someone wants to sell,” and Elkann’s recent comments back this up.
However, Elkann said he was “open to constructive ideas from all parties who share our ambitions and passion for the club”, and some analysts believe they may have given the green light to a potential collaboration with Tether.
1 nomination has been approved, 1 more will be approved
last month, Tether has been announced announced that it has submitted two candidates for consideration to join the Board of Directors of Juventus Football Club. The first candidate was Dr. Francesco Garino, and his nomination is now being accepted.
The second candidate is Zachary Lyons, Tether’s deputy chief investment officer, who Tether said was appointed to join the club to “support the club’s financial and strategic development alongside Francesco.”
Lyon’s case has not been confirmed yet, but it could happen in the future.
The investment in Juventus ties in with Tether’s goals in digital assets and payments, as well as “integrating newly acquired AI and biotechnology expertise into the sports industry.” Last year, Tether announced plans to invest $1 billion in AI, financial infrastructure, and biotechnology, after the company invested $200 million to secure a majority stake in biotech company BlackRock Neurotech.