Tether Nominates Executives to Juventus Board After Investment in Club

Tether Seeks Board Control at Juventus Following 10.7% Stake Investment

Tether, the issuer behind the stablecoin USDT, is making a strategic move into the world of football by seeking board control at Juventus FC. Earlier this year, Tether invested a 10.7% stake in the Italian football club and now aims to increase its influence by nominating two executives to join Juventus’ board of directors.

### Strategic Investment and Board Nominations

In February and April 2024, Tether acquired a significant 10.7% share in Juventus, signaling its strong interest in the football industry. Since the investment, the company has actively engaged with fans to gather insights and concerns about the club’s management. Emphasizing the need for improved governance and stronger minority representation, Tether has nominated Zachary Lyons, its Deputy Chief Investment Officer, and Francesco Garino, a medical doctor and Juventus supporter, to join the club’s board.

These nominations are set to be voted on during the Juventus shareholder meeting scheduled for November 7, 2024. With this initiative, Tether aims to influence the future direction and governance of the club.

### Focus on Corporate Governance and Transparency

Tether’s push for enhanced corporate governance at Juventus comes amidst a period of leadership instability. In November 2022, Juventus experienced a major upheaval when its entire board resigned following allegations of financial fraud related to players’ salaries. Several executives, including former chairman Andrea Agnelli, faced legal consequences, prompting significant changes in the club’s leadership.

Paolo Ardoino, CEO of Tether, highlighted the company’s commitment to bringing “best-in-class corporate governance” to Juventus. By nominating professionals from diverse backgrounds, Tether seeks to strengthen the club’s management and establish better decision-making processes moving forward.

### Expanding Influence Beyond Football

While Tether’s core business centers around stablecoins, the company has been actively diversifying its investments across various industries. Apart from Juventus, Tether has invested $775 million in Rumble, a video-sharing platform. Additionally, the company has shown interest in artificial intelligence by proposing a joint acquisition of Northern Data, a firm specializing in AI infrastructure.

These strategic investments demonstrate Tether’s broader ambition to build a significant presence beyond the cryptocurrency market, expanding its footprint into traditional sectors such as sports and technology.

### The Road Ahead for Juventus and Tether

The upcoming Juventus shareholder meeting will be a pivotal moment for both the club and Tether. Approval of Tether’s board nominations could lead to a considerable shift in Juventus’ governance structure. With Tether’s involvement, the club may see new leadership dynamics aimed at restoring its reputation and ensuring greater transparency after recent scandals.

As Juventus navigates these changes, Tether’s role could become instrumental in shaping the club’s future trajectory both on and off the field.
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