Tether, the broadcast of the world’s largest stable, has increased its participation in Juventus Football Club to more than 10% after expanding its participation in the Italian giant earlier this month.
This last movement offers Tether Investments SA de CV, the company’s investment arm, 6.18% of vote rights. That consolidate a significant shareholder and suggests a deeper participation in the governance and the financial future of one of the most famous sports institutions in Europe.
Juventus, founded in 1897 and with 36 league titles in its name, is an important club in Italian and European football. Tether originally acquired a 8.2% participation in the club in February.
The CEO of Tether, Paolo Ardoino, described the agreement as more than a financial investment. “We believe that Juventus is in a unique position to lead both in the field and to adopt technology that can raise the participation of fans, digital experiences and financial resistance. We are excited about the opportunities that are coming,” said Ardoino.
The company also expressed its willingness to join future capital infusions to “help strengthen the financial base of Juventus and avoid the dilution of its position.”
The Stablecoin giant, who reported $ 13 billion in profits last year, has been investing in several sectors. These include artificial intelligence, Bitcoin mining and agriculture.
Juventus shares rise more than 2.7% to 3.2 euros ($ 3.65) at the time of writing.
