Tether Proposes Governance Overhaul at Juventus with $129M Capital Injection

Tether, the issuer of the world's largest stablecoin, is making strategic moves in European football governance. The company will propose new board candidates for Italian football giant Juventus ahead of a November 7 shareholder meeting, while committing €120 million ($129M) in fresh capital.

The stablecoin giant currently holds a 10.7% stake in Juventus, having increased its position last April. This investment comes despite ongoing turbulence at the club - the entire Juventus board resigned in 2022 amid investigations into alleged financial irregularities regarding player salaries.

"Our commitment to Juventus reflects long-term vision," said Tether CEO Paolo Ardoino, signaling the company's intent to drive innovation at the historic club. The capital increase and governance proposals mark cryptocurrency's growing influence in traditional sports institutions.