Tether CEO Paolo Ardoino Voices Concerns Over Juventus Management
Tether, the issuer of the USDT stablecoin, made headlines last year when it acquired an 8.6% stake in the Italian football club, Juventus. However, recent developments have seen Tether CEO Paolo Ardoino raising significant concerns about the club’s management. In a recent post on X (formerly Twitter), Ardoino expressed his dissatisfaction with how the club has been handling its operations, especially amidst growing criticism from fans.
Juventus Under Fire: Fans Raise Alarm
Juventus has found itself in choppy waters lately, facing increasing discontent from its supporters. Many fans believe that there’s a noticeable deterioration in the club’s identity and performance. As if these issues weren’t enough, the team has been grappling with injuries and the impending departures of key players. Fan criticism also points toward an urgent need for improved management to navigate these tumultuous times effectively.
Financial Woes: Losses Mounting
One of the pressing concerns underscored by Ardoino is the financial health of Juventus. Historically, the club has been reliant on raising funds from shareholders to cover its expenses. Despite accumulating millions of Euros, Juventus has reported losses for five consecutive fiscal years—from the 2019-2020 season to the current 2023-2024 fiscal year, amounting to a staggering €199.2 million. Although there are indications of potential recovery in the coming fiscal year, the overall profit outlook remains precarious.
Tether’s Involvement and Exclusion
Ardoino has indicated Tether’s eagerness to support Juve’s growth. Yet, he expressed disappointment that the club has not allowed Tether to partake in a recent capital increase. In April 2025, Tether raised its stake in Juventus to over 10%, consequently securing 6.18% of the voting rights. However, when the club announced a new equity round estimated between €15 million and €110 million, Tether was notably excluded from invitation. Ardoino described this oversight as “truly a shame,” emphasizing that sidelining willing partners could hinder the club’s resurgence.
Juventus’ Future: A New Direction
Amidst the turmoil, Juventus is taking steps to revitalize itself. The club recently appointed Damien Comolli as its General Manager, a move viewed as critical for reinvigorating the team ahead of the 2025-2026 season. Comolli has expressed his commitment to the club’s legacy and potential, stating his desire to leverage his extensive experience to help Juventus return to its winning ways. If the management takes Ardoino’s concerns into account alongside the new appointments, the club may find itself on a more favorable trajectory.
The Rise of Crypto Sponsorships in Sports
Interestingly, Ardoino’s concerns have surfaced at a pivotal moment for both cryptocurrency and sports sponsorships. According to a recent report by SportsQuake, there has been a 20% increase year-on-year in sponsorships from crypto companies, with total sports expenditure currently valued at $565 million. Football, as the most popular sport for these companies, highlights a trend toward greater crypto involvement in the industry. However, Ardoino’s situation points to a wider issue: simply owning stakes or sponsoring teams won’t suffice. For crypto and sports to truly collaborate, mechanisms for mutual redress need to be developed.
In conclusion, as Tether’s Paolo Ardoino shares grievances about Juventus’s management, it serves as a wake-up call for not only the club but the broader intersection of crypto and sports. Both industries must find common ground to address their challenges effectively and foster a fruitful partnership.
