Community Trust ScoreVerified
Tether bought more Juventus shares. The stablecoin giant now holds over 11% of the Italian football club, up from the 8.2% it first picked up in February 2025. And the stock, since that original purchase, has fallen more than 30%.
Why It Matters
Tether's increased stake in Juventus amid a significant decline in the club's stock price underscores the growing trend of crypto firms seeking to diversify their investments into traditional sectors, such as sports. This move may not only reflect Tether's long-term strategy to gain influence in the sports industry but also highlights the potential for cryptocurrencies to play a role in the financing and management of established brands facing financial pressures. As traditional markets face volatility, the intersection of digital assets and legacy industries could reshape investment dynamics and power structures.
That’s a brutal number on paper. But here’s the thing — Tether probably doesn’t mind. The drop in share price actually hands the company more ammunition in what’s shaping up to be a slow, grinding fight for influence over one of Italy’s most famous football clubs. Exor, the Agnelli family holding company, controls the majority stake and has already turned down Tether’s bid for full ownership. Flat-out refused. So Tether shifted tactics, kept buying shares, and pushed for board representation instead. It got one seat. Francesco Garino, a Tether nominee described by the company as a loyal Juventus supporter for 50 years, was appointed as an independent director. A second nominee, Lyons, was also proposed to the board.
Garino’s ties to Tether run deep.
Garino, Devasini, and the Personal Connection
Garino said publicly that he’s known Giancarlo Devasini — the CFO of Bitfinex and co-owner of Tether — since childhood. That’s not a casual relationship. When Tether puts someone on a board and that person has a lifelong personal connection to the company’s co-owner, it’s pretty much impossible to call it arm’s-length governance. Whether that matters legally is unclear. But it tells you a lot about how Tether operates and what it wants from Juventus long-term.
Devasini is a polarizing figure in crypto circles. Bitfinex and Tether have faced scrutiny from regulators and critics for years over transparency and reserve practices. Tether has pushed back hard on most of that. But the company keeps expanding — into real estate, into commodities, and now into football. Juventus isn’t a random bet. It’s a brand with global reach, a fanbase across multiple continents, and a complicated ownership structure that Tether seems to think it can eventually reshape.
Exor isn’t selling. Not yet, anyway.
Juventus Struggles on the Pitch Too
The football side isn’t helping Exor’s case either. Juventus sits seventh in Serie A right now — three wins, one draw, one loss — which puts them well outside the qualification spots for major European competitions like the Champions League. That’s a significant problem. European competition revenue is massive for top clubs, and missing out on it hits the balance sheet hard. It also gives minority shareholders like Tether a very visible, very public data point to wave around when questioning management decisions.
Tether can basically point at the league table and say: look at what Exor’s stewardship has produced. Whether that argument gains traction with other shareholders is another question. But it’s a real argument, and Garino’s board seat gives Tether a platform to make it directly to management rather than just through press releases.
The stock decline compounds all of this. A 30%-plus drop since February 2025 is not a minor correction. It’s the kind of move that makes other shareholders nervous and potentially more open to hearing alternative visions for the club. Tether seems to be betting that continued underperformance — on the pitch and in the market — will eventually force Exor’s hand or at least isolate it among the broader shareholder base.
No timeline on any of this. No details from either side about what a resolution might look like. Exor hasn’t commented publicly on Tether’s latest stake increase, at least not in any detail that’s been reported. Unclear whether behind-the-scenes talks are happening.
What Tether Actually Controls Now
Over 11% of shares. One board seat. And 7% of voting rights, which is notably lower than the ownership stake — probably a function of how Juventus’s share structure works, with different classes of stock carrying different voting weights. That gap between economic ownership and voting power is worth watching. It means Tether’s ability to force anything at a shareholder vote is still pretty limited, even as it keeps buying.
Garino’s role as independent director places him inside the boardroom for every major strategic discussion. His longstanding personal connection to Tether’s leadership means information flows both ways. And as Juventus keeps sliding down the Serie A table, the pressure on Exor to show results — any results — keeps building.
Tether holds 11% and one board seat.
Frequently Asked Questions
What percentage of Juventus does Tether currently own?
Tether holds over 11% of Juventus shares and 7% of voting rights, up from its initial 8.2% stake purchased in February 2025.
Who is Francesco Garino and why does his appointment matter?
Francesco Garino is a Tether nominee appointed as an independent director at Juventus. He has known Tether co-owner Giancarlo Devasini since childhood, giving Tether a direct personal connection inside the club’s boardroom.
