When the iconic Italian soccer club Venezia FC faced the grim prospect of bankruptcy, a surprising figure emerged to help secure its future—global superstar Drake. The rapper, known for his influence in both the music and sports worlds, played a pivotal role in raising $40 million to keep the club afloat in Serie A, Italy’s top football league.
Venezia FC, a team with a rich history and deep ties to the city of Venice, was on the brink of financial collapse as it prepared for the 2023-2024 season. Without immediate financial intervention, the club risked not only bankruptcy but also a humiliating demotion to Serie D, the lowest tier in Italian football. The situation appeared dire until a crucial phone call set a rescue plan in motion.
Drake’s involvement began with a call from Brad Katsuyama, co-owner of Venezia FC and a close friend of Matte Babel, who serves as Drake’s Chief Brand Officer (CBO) and also works in management. Katsuyama laid out the club’s financial woes, explaining that they needed to raise €10 million within a few weeks and an additional €30 million shortly thereafter to stave off bankruptcy. The urgency of the situation was clear, and Babel immediately turned to Drake for support.
“Venice is an incredible city, and Venezia has always been a special club,” Babel said. “I spoke to Drake, and then Brad and I discussed the details of how we could help. Within two weeks, we had a deal and raised the money needed to pay the salaries and avoid bankruptcy.”
Drake has raised $40 million to help rescue Italian soccer team Venezia FC from going into full-time bankruptcy. ⚽️ pic.twitter.com/vRiRcAES89
— No Jumper (@nojumper) August 9, 2024
Thanks to the swift action and influence of Drake and his team, the necessary funds were secured in just two weeks. The $40 million came from a group of North American investors, with GQ Italia heavily crediting Drake for his instrumental role in mobilizing the effort. The funds were not only used to stabilize the club financially but also to ensure that the team could continue competing at the highest level in Serie A.
In addition to the financial rescue, Drake’s involvement with Venezia FC extended beyond just raising funds. The club has since entered into an apparel partnership with Drake’s Nocta line, which will contribute to designing the team’s new uniforms. This collaboration represents a significant cultural crossover between sport and fashion, underscoring the impact that Drake’s brand has on a global scale.
Brad Katsuyama emphasized the value of Drake’s involvement, stating, “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.”
Looking ahead, Venezia FC is planning to invest €315 million into building a new stadium and indoor arena with state-of-the-art facilities, aiming to open in Venice by the start of the 2027 season. This ambitious project is a testament to the club’s renewed vision and commitment to its future, a future that seemed impossible without the crucial intervention led by Drake.
Drake’s efforts to save Venezia FC highlight not only his passion for sports but also his ability to leverage his influence for impactful, real-world change. For the club, his involvement marks a new chapter of stability and growth, ensuring that Venezia FC remains a cherished part of Venice’s cultural and sporting landscape.
Shivam Kumar
Hi, I’m Shivam Kumar. I’m pursuing Journalism honors from the IP University. I love the skill of writing and looking forward to learn more of it. Also I love traveling and experiencing new things every day….