Drake raised a staggering $43 million to save Serie A club Venezia from potential bankruptcy - with the team having now earned a return to the Italian top flight after his help.
The Veneto outfit last competed in the division back in the 2021-22 season and earned their place back in the league after winning the Serie B play-offs last term. However, the club needed assistance after debts stacked up at Pier Luigi Penzo after spending $21 million on players during their most recent campaign in Serie A .
With the threat of possible financial ruin looming over the club, they then received a boost from a very unlikely source in the form of Drake . He came together with a set of unspecified investors to raise the cash required to boost Venezia's coffers after learning that the club was in need of an initial €10 million and an extra €30 million to stave off bankruptcy.
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With the team having been saved via this gesture, Venezia co-owner Brad Katsuyama explained how it first came about that the rap sensation was able to assist in their hour of need. Speaking to GQ Italy , he recounted how a phone call with the Canadian musician's chief brand officer Matte Babel got the ball rolling in that regard.
"I spoke to Drake , then Brad and I discussed the details of how we could help," he said, as he recalled how the issues were solved. "Within two weeks we had a deal, raised the money needed to pay the salaries and avoid bankruptcy. Matte was my first call when I knew the club needed help."
Paying tribute to the hitmaker for his assistance, Katsuyama continued: "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."
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Meanwhile, Rob Hamwee, Venezia chairman of the operating committee has also spoken with optimism about the season ahead, alongside the club's plans for the long-term. Outlining the club's objectives for the next decade, he set his sights on qualifying for the Champions League in the future.
"We believe we have all the ingredients necessary for long-term and sustainable success at the highest level of European football: a world-class, globally recognised city, a passionate and loyal fan base, a world-class training facility, a world-class youth programme and a fully committed ownership group.
"With patience, commitment and a little luck, there is no reason why Venezia cannot compete for a Champions League spot in the not-too-distant future.”
Duncan Niederauer, Venezia chairman, added: "We have made significant investments to renovate our current stadium, are well on our way to operating the new stadium that will open in 2027, and have committed to the City to make a significant investment in the facility. Combined with our previous $10 million investment in Ca’ Venezia, our state-of-the-art training facility, we are poised to have some of the most modern infrastructure in Italy."
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