Elon Musk's favourite cryptocurrency completes 'revolutionary' takeover of Italian side as House of Doge CEO says venture goes 'far beyond football' - but club have just been deducted 13 points

Triestina, a club rich in history but absent from Serie A since 1959, has entered a new chapter. After two years under the stewardship of previous ownership, LBK Capital LLC, the baton has now passed to House of Doge, the operational arm of the Dogecoin Foundation. This marks the first time in European football that a cryptocurrency has directly integrated into a club’s ownership structure — a bold leap into uncharted territory.

With new beginnings, however, come new challenges, and for Triestina the challenge is stark: chasing promotion while grappling with a severe points penalty. Or, as Marco Margiotta, CEO of House of Doge, put it:

"Our investment in Triestina goes far beyond football. It's about connecting the global Dogecoin community with one of Europe's most historic clubs and demonstrating that digital assets can generate value, culture, and passion in the real world. We aim to create a shared movement that unites local pride with global innovation."

House of Doge, in its statement, emphasised this vision clearly: "We see sport as one of the most powerful platforms for accelerating Dogecoin adoption. By becoming the largest equity holder of US Triestina Calcio 1918, House of Doge is not only making history in European football but also setting the stage for Dogecoin to be integrated into everyday culture - from payments to partnerships to global fan experiences. Just as we expand globally, we also want to invest locally: Trieste and its people are central to this journey, and we are committed to building a bridge between the passion of the community here and the energy of Dogecoin supporters worldwide."

The club itself echoed this excitement, calling the takeover a “revolutionary operation” and a “historic turning point for football.”

The sporting reality is brutal, however. Triestina had already been docked seven points for earlier administrative failings but a new ruling from the Italian Football Federation's (FIGC) adds 13 more to that penalty, bringing the total deduction to 20 points this season. That cumulative sanction plunges the club to the foot of the table despite a promising start on the pitch and renders the path to survival or promotion exceptionally steep.

The new owners were aware of the club’s complex situation prior to finalising the deal, and they have injected emergency funds to keep the club afloat. Even with fresh capital, overturning a 20-point deficit in Serie C is extraordinarily difficult and will require both on-field overperformance and clever off-field management.

Triestina’s governance will undergo a reset. The LBK Board is set to be reconstituted and a new club president appointed, aligning the structure with House of Doge’s strategic vision. This step is seen as essential in stabilising the organisation and providing clear direction as the club attempts to overcome its 20-point handicap and rebuild both on and off the pitch.