Tether blocked from €110M Juventus funding round despite stake
Tether CEO: We’re not allowed to support Juventus financially
Despite its interest in providing financial support, the largest stablecoin issuer, Tether, has been barred from participating in the latest funding round for Juventus Football Club.
As a major shareholder of the Turin-based club, Tether is now expected not to take part in the ongoing funding round for Juventus, which ranges between €15 million and €110 million.
On June 2, in a post on X (formerly Twitter), Tether CEO Paolo Ardoino stated that the company has been excluded from the club’s capital increase announced in April, as no approval was granted for Tether to join.
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“Since Tether announced its investment in Juventus — especially over the last few days, following growing fan frustration about the team’s current condition — many of you have asked when Tether will ‘bring the wheat’ to support Juventus and buy new players,” Ardoino wrote.
Tether wants more say in Juventus' future
According to Ardoino, Tether is eager to contribute to the team’s growth and future, but “we cannot do so if we are not allowed to.”
“I hope at least the money I spend on tickets goes toward covering management costs,” Ardoino added, ending his post with the phrase: “Make Juventus Great Again – MJGA.”
Ardoino did not specify why Tether was excluded, but it is presumed that the Agnelli family, which controls more than 60% of the club's shares, has not formally approved the decision at the shareholder level.
As we wrote, Tether investments acquires stake in Juventus Football Club
