Who would have thunk it. Drake is a soccer fan. Italian soccer to be exact. And when Venezia FC, an Italian soccer club, in Venice, was looking at going under via bankruptcy, Drizzy stepped in to reverse their fate.
Check this out, according to a report by “GQ Italia”, the “Chicago Freestyle” rapper from Toronto, like we needed to say that, played a major role in raising the hefty $40 million. Basically he helped secure the big bag to keep Venezia FC alive in Serie A. From the looks of things, the club was on the brink of financial collapse as it headed into the 2023-2024 season, with the possibility of being demoted to Serie D due to its financial struggles.
If you are not familiar how things work when you drop down from one level to another, you lose out on money, respect, all that stuff. Watch “Ted Lasso” on Apple TV+ and learn all about it.
“I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine,” explained Drake’s Chief Business Officer, Matte Babel, who also works in management. “He laid out the problem to me in a simple way: Venezia has to raise €10 million in a couple of weeks, and then at least €30 million in a few months, or the club will go bankrupt.”
Get this, Babel quickly reached out to Drake, and together they began mobilizing efforts at lightening speed to secure the necessary bread.
In just two weeks, they managed to raise enough money to hold off the bankruptcy wolves, allowing the club to continue competing at the top level of Italian soccer. “Venice is an incredible city and Venezia has always been a special club. I spoke to Drake, then Brad and I discussed the details of how we could help. Within two weeks we had a deal, raised the money needed to pay the salaries and avoid bankruptcy.”
So Drake didn’t just write a check. Reportedly, the $40 million came from a group of North American investors, with Drake’s involvement being heavily credited for the successful fundraising effort. Can you imagine the money people he has access to. Crazy.
The new ownership group also formed an Operating Committee to oversee the strategic direction of the club. Big business right there.
Check this out, Katsuyama acknowledged Drake’s crucial role, stating, “Matte was my first call when I knew the club needed help. Drake’s value to any football club is undeniable, given his scale as a global superstar and the reach of his brand. This intersection of culture and sport is exactly where we want to be, and the chance to collaborate with a brand like NOCTA, who is moving along the same lines, is incredibly valuable.”
And as part of the new deal, Venezia FC also struck an apparel partnership with Drake’s NOCTA line, which will be involved in designing the club’s new uniforms. You would think at a minimum, Drake would be involved creatively moving forward and that is the case.
Now charging ahead, the city of Venice has invested €315 million into constructing a new stadium and indoor arena with state-of-the-art facilities, which the team aims to open for the start of the 2027 season. Wow, big win all around. Imagine all the jobs Drake saved or created. Good for him and all those involved.
The post Drake Saves Italian Soccer Club From Bankruptcy By Helping Raise $40 Million first appeared on The Source.
The post Drake Saves Italian Soccer Club From Bankruptcy By Helping Raise $40 Million appeared first on The Source.