Tether proposes Juventus board candidates…$129 million additional investment planned
Summary
- Tether (USDT) said it plans to propose a list of board candidates for Juventus and a governance improvement plan.
- Tether said it will contribute an additional approximately $129 million to participate in the club's capital increase.
- Tether increased its stake in Juventus to 10.7% in April, saying this was an expression of confidence in long-term cooperation.
Stablecoin issuer Tether (USDT) plans to present a new list of board candidates and a governance improvement plan for Italian football club Juventus, in which it holds a stake.
According to Reuters on the 7th (local time), Tether is expected to propose its recommended slate of directors and a governance restructuring plan ahead of the Juventus shareholders' meeting scheduled for November 7. It also plans to contribute an additional approximately $129 million (about 177 billion won) to participate in the club's capital increase.
Earlier, Tether first invested in Juventus in February, and in April increased its stake to 10.7%. Paolo Ardoino, Tether's chief executive officer (CEO), said at the time, "an expression of confidence in innovation and long-term cooperation."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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