Is a Crypto Giant About to Take Over Juventus?
An El Salvador-based crypto company is taking a significant stake in a traditional Italian football club. The business ties also reach into Switzerland – and apparently to a Russian billionaire as well.
Within just two and a half months, Tether, the firm behind the stablecoin of the same name, has acquired more than 10 percent of Italian football club Juventus Turin.
Now domiciled in El Salvador but also active in Switzerland, the company has become the storied club’s second-largest shareholder. Reporting suggests Tether may boost its holdings even further. «Tether USD,» the cryptocurrency it issues, is pegged to the U.S. dollar and is the world’s most important stablecoin today.
Close Ties to Switzerland
At the same time, the company founded by Italians Gianluca Devasini and Paolo Ardoino plays a central role in Switzerland: together with Bitcoin and the local LVGA token, Tether is one of the main partners of the city of Lugano, which has spent several years positioning itself as a crypto- and blockchain hub («Plan B»).
Juventus Turin is listed on Euronext Milan, but roughly 65 percent is controlled by Exor, the Agnelli family’s investment company. Until now, the No. 2 shareholder was UK fund house Lindsell Train with 8.7 percent; that spot now belongs to Tether with 10.12 percent.
New Dreams for an «Old Lady»
With last year’s profit of 13.7 billion dollars, Tether can easily afford such an investment, and is a «very good catch» for a club that has lately fallen short of its own proud history. The move is already firing fans’ imaginations, as they hope for an eventual change of ownership at the «Old Lady» of Italian football.
Even at its initial entry on Valentine’s Day 2025, when Tether first bought 8.2 percent of the club, the company talked boldly and described itself as new «architects» of Juventus.
About two weeks ago, Tether lifted its stake to 10.1 percent of the outstanding share capital and stated: «The investment reflects Tether’s long-term commitment to the future of Juventus Turin and our confidence in the club’s intrinsic value and growth potential.»
Blending Sport and Tech
The move also marks the start of a «deep, mutually beneficial partnership» between the worlds of sport and technology – true to the Latin motto Hic manebimus optime («Here we shall stay to the very best advantage»).
With its holding, Tether controls 6.18 percent of the voting rights and says it is open to a capital increase. «We are proud to become a significant shareholder of Juventus – a club with an incomparable history, brand and fan base,» said Tether CEO Ardoino, who also leads the firm’s collaboration with the city of Lugano.
Rolling Out New Technologies
The commitment is «not merely financial, but a pledge to innovation and long-term cooperation,» he added. Juventus is uniquely positioned both on the pitch and in deploying new technologies for fan engagement and digital experiences.
«We are thrilled by the opportunities ahead,» beamed Ardoino, whose prospects have brightened amid the recent surge in cryptocurrency prices.
Boardroom with a Russian Connection?
According to Milan financial circles, Tether plans to nominate Juan Sartori to Juve’s board. The 44-year-old Uruguayan entrepreneur has owned 36 percent of English Championship side Sunderland since 2018 and is vice-president of AS Monaco, majority-controlled by Russian oligarch Dmitri Rybolovlev.
Sartori is also married to Ekaterina, Rybolovlev’s eldest daughter; among other high-profile deals, the family bought a Palm Beach villa from Donald Trump for 95 million dollars and owns the island of Skorpios, once the retreat of Greek shipping magnate Aristotle Onassis and a long-time playground of the international jet set.
