Juventus said on Thursday that its board approved a capital increase of up to 37.9 million new ordinary shares, equivalent to roughly 10 per cent of its existing stock, through a sale of shares to institutional investors.

The Serie A club said controlling shareholder Exor, holding approximately 65.4 per cent of the club, pledged to fully subscribe to the capital increase.

Cryptocurrency group Tether Investments, which holds around 11.5 per cent, said that it would also participate for an amount equal to its stake and may acquire any unallocated shares.

The deal is worth up to around 1.5 million euros ($1.7 million) and will allow both shareholders to keep their stakes unchanged after the capital increase.

($1 = 0.8672 euros)

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