November 10 – The financial world of football is moving faster than high-speed optical fibre cable, and nowhere is that more evident than in the environment of crypto. Cryptocurrency stablecoin Tether, a minority owner in Juventus, now has a seat on the club’s board.
Paolo Ardoino, Tether’s CEO, announced that the company now holds a seat on Juventus’s board of directors, represented by Dr. Francesco Garino. “Tether has just received its first seat on the Juventus Board of Directors… Francesco Garino confirmed!” Ardoino posted on X. “Thanks to all minority shareholders for supporting our request to be involved. The first necessary step toward MJGA!”
Garino may be a ‘tech bro’ but he is also a lifelong Bianconeri supporter from Turin, who will act as a bridge between fans and the board.
Tether began its relationship with Juventus earlier this year when they acquired a minority stake. “While blockchain technology has featured prominently in professional sports with a view to enhancing the fan experience,” Tether said in a statement, “Tether’s acquisition of a minority ownership stake in Juve is looking forward to delivering a sports-digital asset synergy at a new level.”
The Agnelli family, who have controlled Juventus for over a century through Exor and still own 65% of the club, remain firm in their grip of the club.
“You can buy only what someone wants to sell,” Ardoino admitted, while Exor CEO John Elkann clarified they have “no intentions to sell,” though he noted they are “open to constructive ideas from all stakeholders.”
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