In addition to being issuer of the world’s largest stablecoin, USDT, Tether additionally owns greater than 10% of Juventus FC and is now trying to play a extra energetic position within the operating of the Italian soccer powerhouse.
Tether requested to participate in the club’s recent capital increase and be granted a board seat in Might, based on an emailed assertion from the stablecoin issuer.
“Whereas these requests weren’t taken up on the time, a brand new assembly date has since been proposed, and we’re at present coordinating with stakeholders to substantiate availability or recommend an alternate if wanted,” Tether mentioned.
Juventus dominated Italian soccer all through the 2010s successful 9 consecutive Serie A titles between 2011 and 2020, however has been in a rebuilding mode since ending between third and seventh in every of the 5 seasons since their final championship.
Tether increased its stake in I Bianconeri (“The White and Blacks”) to over 10% in April, having purchased 8.2% of the membership in February. It’s now Juventus’ second-largest shareholder. Exor, the holding firm of the Agnelli family, owns 65%.
“[Our] intention is to be a supportive and engaged companion within the membership’s future,” Tether mentioned. “We acknowledge that important funding might be wanted to construct a aggressive squad, and we’re ready to contribute meaningfully to that effort.”
The information of Tether’s requests was beforehand reported by Bloomberg on Wednesday.