Key Takeaways
- • Tether acquired an 8.2% stake in Juventus in February 2025 and has since increased its holding to over 11% of total shares and 7% of voting rights, according to the primary report.
- • Juventus shares are down more than 30% since Tether's original investment, per the report.
- • Tether's bid to take control of the club was rejected by majority shareholder Exor, which unanimously refused to sell, and publisher coverage cites a bid valuing Juventus at roughly €930 million to over €1 billion.
- • Tether secured a board seat for nominee Francesco Garino, a long-time associate of Tether co-owner and Bitfinex CFO Giancarlo Devasini.
- • Juventus sits seventh in Serie A and outside European qualification spots, a backdrop the report suggests could give minority holder Tether leverage over Exor's management.
Summary
Tether, the issuer of the world's largest stablecoin, invested in Juventus FC, Italy's most successful football club, in February 2025, acquiring an 8.2% stake. According to the report, Tether has continued buying since then and now holds more than 11% of total Juventus shares and 7% of voting rights. Over the same period, Juventus's stock has fallen by more than 30%.
Tether pursued total ownership of the club after its initial purchase, but majority shareholder Exor, the Agnelli family holding company, unanimously refused to sell. Publisher coverage of the bid described the approach as valuing Juventus at roughly €930 million ($1.09 billion), with shares rising sharply on the news before the rejection.
In return for its stake, Tether secured a seat on Juventus's board for its nominee, Francesco Garino. Tether described Garino as "a true JuventinoDOC for 50 years." When contacted by La7, a private Italian media company, Garino described himself as "Tether's trusted man" and said he had known Giancarlo Devasini, CFO of Bitfinex and co-owner of Tether, for 50 years, "since we were children."
The report argues that the share price decline could work in Tether's favor. As a minority shareholder, Tether has room to criticize the decisions of Exor and could, over time, seek to gain control. The club's sporting position adds to the pressure: Juventus currently ranks seventh in Serie A and sits outside qualification spots for any major European competition, with three wins, one draw and one loss in its recent results.
Tether pursued total ownership of the club after its initial purchase, but majority shareholder Exor, the Agnelli family holding company, unanimously refused to sell. Publisher coverage of the bid described the approach as valuing Juventus at roughly €930 million ($1.09 billion), with shares rising sharply on the news before the rejection.
In return for its stake, Tether secured a seat on Juventus's board for its nominee, Francesco Garino. Tether described Garino as "a true JuventinoDOC for 50 years." When contacted by La7, a private Italian media company, Garino described himself as "Tether's trusted man" and said he had known Giancarlo Devasini, CFO of Bitfinex and co-owner of Tether, for 50 years, "since we were children."
The report argues that the share price decline could work in Tether's favor. As a minority shareholder, Tether has room to criticize the decisions of Exor and could, over time, seek to gain control. The club's sporting position adds to the pressure: Juventus currently ranks seventh in Serie A and sits outside qualification spots for any major European competition, with three wins, one draw and one loss in its recent results.
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