Stablecoin giant Tether’s position as a shareholder in Juventus is intriguing.
According to La Gazzetta dello Sport, Tether, which holds about 11.5% of Juventus, will take part in a capital increase of around €250 million led by Exor, contributing approximately €28.8 million (about $32.1 million) in proportion to its stake. But at the shareholders’ meeting on November 3, it voted in favor only of the capital increase proposal and abstained on all the other resolutions—including the annual financial statements, which showed a loss of around €66 million, board appointments, and management incentive plans.
The logic behind this move is easy to see: voting for the capital increase prevents its stake from being diluted, while abstaining on the financial statements and governance resolutions signals reservations about the club’s management. Last year, Tether made a binding offer to Exor, the Agnelli family’s holding company, to acquire all of Juventus, but it was rejected. Tether had also previously raised procedural objections to the capital increase plan, yet ultimately contributed in proportion to its stake.
Continuing to invest substantial sums while deliberately keeping its distance at the governance level, the $USDT issuer is clearly far from wrapping up its football ambitions.
#Tether #尤文图斯 #SerieA
According to La Gazzetta dello Sport, Tether, which holds about 11.5% of Juventus, will take part in a capital increase of around €250 million led by Exor, contributing approximately €28.8 million (about $32.1 million) in proportion to its stake. But at the shareholders’ meeting on November 3, it voted in favor only of the capital increase proposal and abstained on all the other resolutions—including the annual financial statements, which showed a loss of around €66 million, board appointments, and management incentive plans.
The logic behind this move is easy to see: voting for the capital increase prevents its stake from being diluted, while abstaining on the financial statements and governance resolutions signals reservations about the club’s management. Last year, Tether made a binding offer to Exor, the Agnelli family’s holding company, to acquire all of Juventus, but it was rejected. Tether had also previously raised procedural objections to the capital increase plan, yet ultimately contributed in proportion to its stake.
Continuing to invest substantial sums while deliberately keeping its distance at the governance level, the $USDT issuer is clearly far from wrapping up its football ambitions.
#Tether #尤文图斯 #SerieA