Tether's Juventus Dispute: A Crypto-Sports Partnership Snag
Tether CEO Disputes Juventus Management
Tether, the issuer of the USDT stablecoin, holds an 8.6% stake in Italian football club Juventus, acquired last year. However, recent comments from Tether CEO Paolo Ardoino reveal significant disagreements with the club's leadership.
Ardoino's concerns stem from Juventus's ongoing financial struggles. The club has reported net losses for five consecutive fiscal years (2019-2024), totaling €199.2 million. While potential recovery is projected for 2024-25, profitability remains uncertain.
Tether's Exclusion from Capital Increase
Ardoino expressed frustration over Tether's exclusion from a recent €15-110 million equity round. Despite increasing its ownership stake to over 10% in April 2025 (granting 6.18% voting rights), Tether wasn't invited to participate. Ardoino deemed this "a shame to sideline willing partners who could invest significantly."
He emphasized Tether's commitment to Juventus' success, stating, "Tether is eager to contribute to the growth and future of the team."
Juventus faces additional challenges including player injuries, potential departures, and a need for improved performance. The club recently appointed Damien Comolli as General Manager in an attempt to address these issues.
Crypto Sponsorships in Sports: A Growing Trend
This dispute highlights a critical juncture for crypto sponsorships in the sports world. According to a SportsQuake report, crypto company sponsorships in sports have seen a 20% year-on-year increase, totaling $565 million, with Crypto.com leading the way. Football remains the most popular target for crypto investment.
The Tether-Juventus case underscores the need for stronger, more equitable partnerships between the crypto and sports industries. Simple sponsorships and ownership stakes are insufficient; robust mutual redressal mechanisms are crucial for sustainable collaboration.
Disclaimer: This content reflects the author's opinion and is subject to market conditions. Conduct thorough research before investing in cryptocurrencies. The author and publication bear no responsibility for personal financial losses.
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