Tether, the company behind USDT
$1.00
, has announced its intent to take a more active role in the Italian football club Juventus.
After building up a stake of 10.7% through investments in February and April, Tether has now put forward two candidates for the club’s board of directors.
In a statement released on October 16, the company named Zachary Lyons, who serves as Tether’s deputy chief investment officer, and Francesco Garino, a practicing orthodontist and long-time Juventus fan, as its nominees.
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Their appointment will be decided during a shareholders’ meeting scheduled for November 7.
Tether’s message alongside the nominations emphasized its desire to connect more with Juventus supporters and strengthen the club’s governance.
According to the statement, fans from Italy and other countries have offered suggestions and expressed interest in having their voices heard. Tether said it is proposing certain changes to the club’s by-laws to support better representation and improved corporate practices.
Paolo Ardoino, Tether’s CEO, has also been vocal about his ambitions for the club. He has often used the phrase “Make Juventus Great Again”.
The nominations come after a period of controversy for Juventus. In November 2022, the entire board stepped down due to investigations into financial misconduct related to players’ pay.
On October 14, Tether reached a settlement with the Celsius Network bankruptcy estate. What does the agreement cover? Read the full story.
