Tether (USDT), the world’s largest stablecoin by market capitalization, is making waves in the sports and crypto intersection once again. The company is planning to propose its own candidates for the board of Italian football powerhouse Juventus FC on November 7, 2025, along with suggested governance changes. This move marks Tether’s second attempt to gain influence in the club’s management, reflecting both its growing ambition and the complex dynamics of shareholder power in legacy sports organizations.

Despite being Juventus’ second-largest shareholder with a 10.7% stake, Tether has been repeatedly excluded from board decisions and additional funding rounds. The exclusion comes even as the football club faces significant financial pressure, posting a loss of $58 million for the fiscal year ending June 2025. The timing of Tether’s renewed push suggests that the stablecoin firm sees a unique opportunity to assert influence in a club navigating both financial and strategic challenges.

Tether’s Stake and Shareholder Influence

Tether began building its stake in Juventus in February 2025. Initially a minority investor, the stablecoin firm gradually increased its position to over 10%, becoming the second-largest shareholder after Exor, a Dutch-headquartered investment holding company controlled by the Agnelli family. Exor owns roughly 65% of Juventus and has traditionally maintained tight control over board decisions. However, Italian corporate law allows shareholders with at least 10% ownership to propose alternative board lists, giving Tether a legally supported path to contest board control.

This framework sets the stage for a potential showdown between traditional institutional ownership and new-age crypto capital. Tether’s influence is not purely financial; it also carries a strategic narrative. CEO Paolo Ardoino, a lifelong Juventus fan, has expressed a desire to integrate blockchain technology into the club’s operations, enhancing fan engagement, digital experiences, and financial transparency. In doing so, Tether is positioning itself not just as a capital provider, but as a catalyst for modernization.

Governance Changes and Capital Infusion

Alongside proposing candidates, Tether plans to advocate for governance reforms and participate in a potential capital raise of up to $129 million. The Juventus board had previously proposed this capital increase in September, but Tether was excluded despite its significant stake. By participating in the upcoming shareholder vote, Tether hopes to challenge existing norms and push the club toward a more inclusive and tech-forward approach to governance.

The proposed governance changes are currently undisclosed, but they are likely to involve mechanisms that increase transparency and provide minority shareholders with a stronger voice. Given the club’s financial difficulties, these measures could resonate with other shareholders dissatisfied with Exor’s management. If successful, Tether could gain leverage not only in board decisions but also in shaping the strategic direction of Juventus.

Challenges Ahead for Tether

Despite the potential, Tether’s bid faces considerable hurdles. Exor’s dominance in Juventus ownership remains formidable, and the company has publicly stated that it has no plans to invest in crypto. This ideological divide could make negotiations difficult and may limit support from traditionalist shareholders. Moreover, the sports sector is notoriously resistant to disruptive technologies. Integrating blockchain or other digital innovations into Juventus’ operations may encounter pushback from executives and stakeholders accustomed to conventional management practices.

Additionally, while Tether has financial clout, the success of its bid will depend on shareholder sentiment during the November 7 vote. Minority shareholders may be attracted by the promise of capital injection and modernization, especially in light of the club’s ongoing losses. However, the ultimate outcome remains uncertain, as institutional inertia and risk aversion often shape corporate decision-making in legacy sports clubs.

The Broader Implications

Tether’s efforts at Juventus highlight a growing intersection between cryptocurrency firms and traditional industries. Beyond football, stablecoin companies and other blockchain-based enterprises are increasingly exploring investments in legacy assets, ranging from real estate to entertainment. Juventus represents a high-profile case where digital asset firms are attempting to influence governance in a centuries-old institution.

If Tether succeeds, it could set a precedent for how crypto companies engage with traditional companies, particularly those struggling with modernization and revenue diversification. The move could also signal a broader shift in how sports organizations approach funding and technological adoption. For Juventus, this might mean a more tech-forward strategy, incorporating blockchain for ticketing, fan engagement, and possibly even player transactions.

Looking Forward

As November 7 approaches, all eyes will be on Juventus and its shareholders. The outcome of Tether’s bid will provide insights into both corporate governance in legacy sports institutions and the evolving role of crypto firms in traditional industries. If Tether secures board representation or influences governance reforms, it could mark a new era where digital asset companies are recognized not just for capital provision but as strategic partners capable of driving innovation.

Even if the bid fails, the attempt underscores the growing ambitions of stablecoin firms like Tether, signaling that crypto is increasingly willing to engage with real-world assets and governance issues. For Juventus, the vote represents a critical juncture: balancing traditional ownership structures with the potential benefits of embracing modern financial and technological approaches.

In conclusion, Tether’s pursuit of board influence at Juventus FC exemplifies the tensions and opportunities that arise when crypto intersects with established institutions. The November 7 vote is likely to be closely watched by investors, regulators, and the broader sports and crypto communities, offering a glimpse into how digital assets might shape governance in the future. Whether Tether succeeds or not, its active engagement in Juventus governance illustrates the firm’s long-term vision: leveraging blockchain and digital finance to reshape traditional sectors, starting with one of Italy’s most iconic football clubs.