Cryptocurrency is making moves into professional sports, but the feeling isn’t always mutual.
The most recent example is Tether, the issuer of the world’s largest stablecoin (USDT), which made an unprecedented multi-billion-dollar all-cash bid to acquire control of the renowned Italian football club Juventus FC.
“For me, Juventus has always been part of my life,” said Paolo Ardoino, CEO of Tether. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity. Those lessons stayed with me long after the final whistle.”
The Agnelli family, which has controlled Juventus for over a century, reportedly rejected the offer. Still, the move highlighted a growing trend: crypto firms are seeking to acquire sports franchises for more than sponsorships.
Until recently, the industry’s presence in sports had mainly been through branding, fan engagement, and naming rights. For instance, Crypto.com secured naming rights for the Lakers’ and Kings’ home arena, while Kraken sponsors Tottenham Hotspur, Atlético Madrid, and RB Leipzig.
Other crypto brands have also made their mark. ByBit, a Dubai-based crypto exchange, is the principal partner of Oracle Red Bull Racing. In contrast, Coinbase partnered with the Aston Martin Aramco F1 team and the Saudi Arabian national football team. Ledger, a Paris-based blockchain security company, even became the official jersey patch sponsor for the NBA’s San Antonio Spurs.
But now, the stakes are higher. Firms like Tether are exploring direct ownership, seeing potential for growth through fan engagement, brand building, and digital innovation. Crypto companies have already integrated blockchain technologies into fan interactions with tokens, enabling voting and rewards, as seen with Juventus and FC Barcelona.
Chiliz, a Malta-based blockchain ecosystem, enables fans to buy branded tokens and has partnered with top clubs such as Juventus, Paris Saint-Germain, and Manchester City. The goal is clear: monetize fan engagement while offering crypto companies instant global exposure. As for Tether, it already holds a 10% stake in Juventus. Now, the company wants to deepen its involvement in one of Europe’s most storied football clubs—blurring the lines between sports and crypto in the process.
