Tether Plans to Propose Candidates for Soccer Club Juventus Board Seat: Reuters

Tether, issuer of the world’s largest stablecoin, plans to propose its own candidates for a board seat at Juventus FC, the Italian soccer club in which it owns a stake of 10.7%, Reuters reported on Monday.

The stablecoin giant will submit its list at the club’s annual shareholder meeting in November, according to the report, citing an email from Tether.

Tether also said it plans to propose some “governance changes” at the Nov. 7 meeting, though did not elaborate what these are, the report said. Juventus investors will vote upon the company’s board renewal at the shareholder meeting.

Tether acquired 8.2% of Juventus in February, and subsequently increased its stake to over 10% in April.

In the months that followed, Tether sought a more active role in I Bianconeri’s (The White and Blacks) operations, asking to participate in club’s capital increase and be granted a board seat.

Juventus, which is regarded as one of the most famous soccer clubs in the world, dominated Italy’s top division Serie A throughout the 2010s. It is also the favorite team of Tether CEO Paolo Ardoino.

Tether did not respond to CoinDesk’s request for further comment.