Quick take:
The company wants to integrate its digital assets and payment solutions with sports franchises worldwide.
Last year, Plan ₿, an initiative founded by Tether and the City of Lugano, announced its official sole kit sponsorship of FC Lugano.
The company has also invested in Bitcoin mining projects, AI and biotech as part of its long-term strategic vision.
Tether, the world’s largest digital company has acquired a minority stake in Serie A side Juventus Football Club. The strategic acquisition was completed through Tether Investments, the company’s investment arm that operates outside of the stablecoin business.
According to the announcement on the company’s website, this acquisition fits in well with Tether’s strategic goal of integrating stablecoins, digital assets, and human-first technology into everyday life.
Last year, Tether also entered into an initiative with the city of Lugano in Switzerland to form an entity dubbed, Plan B, also becoming the sole kit sponsor of the locally-based football club, FC Lugano.
As part of its stake in Juventus FC, Tether is integrating its digital assets and payment solutions with sports franchises worldwide.
The announcement also follows the company’s recent investments and acquisitions including Bitcoin mining projects, AI and biotech as part of its long-term strategic vision.
Commenting on the announcement, Paolo Ardoino, CEO of Tether said in a statement: “Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape.”
The company is also tapping into the expertise of leading figures in the business of sports including Juan Sartori, given his involvement with Sunderland AFC, extensive tenure at AS Monaco Football Club, and the European Club Association.
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