Drake’s Support Helps Italian Soccer Team Avoid Bankruptcy With $40 Million Raised

An Italian soccer team was facing bankruptcy but now they are back in business after an unexpected assistance from Drake .

Venice-based Venezia FC is a cherished soccer team in Italy, with a rich history dating back to its establishment in 1907. The team has been a prominent fixture in Italian soccer, primarily competing in the Serie B division. Despite years of contending for promotion, Venezia FC finally secured a spot in Serie A in the summer of 2021, marking their return to the top league after two decades. However, their time in Serie A was short-lived as they finished last in the following season, resulting in relegation back to Serie B.

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Facing financial difficulties due to their expenditures in Serie A, Venezia FC was at risk of being relegated to Serie D due to their mounting debt. In a last-ditch effort to save the club, owner Brad Katsuyama reached out to a close friend for assistance. Matte Babel, part of Drake’s management team and Chief Brand Officer, received the call for help, and from that moment on, everything fell seamlessly into place.

“He laid out the problem, simply — Venezia needs to raise ten million euros in a couple of weeks, and then at least thirty million euros in a few months, or the club will go bankrupt,” Babel shared with GQ Italy.  “Venice is an incredible city and Venezia has always been a special club, I spoke to Drake, and then Brad and I discussed how we could help.”

Babel shared that in just a fortnight, they reached an agreement and successfully secured the funds required to cover expenses and prevent bankruptcy, with a total of $40 million raised from various North American investors. The involvement of Drizzy played a crucial role in making this possible.

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“The value of Drake to any football club is undeniable given his global superstardom and brand reach — this intersection of culture and sport is exactly where we want to be and as a sports organization the ability to tap a brand like NOCTA that also teeters the same line is incredibly valuable,” Babel added.

Thanks to these investments, the team is now flourishing, having recruited new talent and upgraded their facilities. The enhancements are anticipated to be finalized by the 2027/28 season, setting the stage for a promising future for the club.