Tether, the issuer behind the world’s largest stablecoin, USDT, has been blocked from participating in a major capital raise for Juventus Football Club, despite holding a stake in the Italian football giant.
The funding round, which ranges from €15 million to €110 million, aims to inject fresh capital into the Turin-based club. However, Tether CEO Paolo Ardoino confirmed in a June 2 post on X (formerly Twitter) that the company was not granted permission to contribute financially.
“Many of you have asked when Tether will step in to support Juventus and fund new players,” Ardoino wrote. “But we’re simply not allowed to.”
Ardoino emphasised that Tether remains committed to supporting Juventus both financially and strategically, but said such ambitions are currently stifled. “We are eager to contribute to the club’s future, but our hands are tied without the proper authorisation,” he added.
He closed the post with a jab at the situation, noting that even his ticket purchases should “at least go toward covering management costs.” He ended with a rallying phrase: “Make Juventus Great Again – MJGA.”
While Ardoino didn’t clarify the reason for Tether’s exclusion, speculation points to the Agnelli family, who control over 60% of Juventus shares, as the likely gatekeepers of the decision. The exclusion appears to stem from a lack of formal shareholder approval, suggesting internal resistance to Tether’s involvement at the executive level.
