Juventus shares have declined by more than 30% since Tether acquired an 8.2% stake in the Italian football club in February 2025, despite the stablecoin company subsequently increasing its ownership to more than 11% of total shares and 7% of voting rights.
Tether initially sought greater control over Juventus but faced opposition from majority shareholder Exor, which unanimously rejected the proposal to sell its controlling stake. Tether nevertheless secured a position within the club’s governance after one of its nominees, Francesco Garino, was appointed to the board as an independent director.
Garino’s appointment gave Tether direct representation at board level while the company remained a minority shareholder. Tether had initially proposed two director candidates, Garino and Lyons, although only Garino was ultimately accepted.
The decline in Juventus’ share price has not necessarily weakened Tether’s strategic position. As a significant minority shareholder, Tether retains the ability to challenge decisions made by the majority shareholder and potentially increase its influence if the opportunity arises.
Juventus’ sporting performance also remains a relevant factor for the club’s financial position and market valuation. The team currently sits seventh in Serie A and outside the qualification positions for major European competitions, with three wins, one draw and one loss in the current campaign.
The combination of Tether’s growing equity position, board representation and Juventus’ declining share price creates an unusual dynamic between the stablecoin company and the club’s controlling shareholder. The key factor to monitor is whether Tether continues increasing its stake and influence or maintains its position as a strategic minority shareholder.
