Drake Raises $40M to Save Italian Soccer Club from Bankruptcy

When an Italian soccer club was staring down bankruptcy, an unlikely hero showed up at Venezia FC’s doorstep ready to lace up his shinguards.

According to GQ Italia, Drake played an integral role in helping raise $40 million for the Venice soccer club to stay afloat in Serie A. The franchise was looking at filing for bankruptcy heading into the 2023-2024 season and faced the possibility of being demoted to the lowest Serie D with a poor performance.

“I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine,” said Drake’s CBO 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.”

Babel gave Drake a call, and the ball was immediately rolling to help Venezia FC get back on its feet. It only took two weeks to raise the money needed to hang up the phone on bankruptcy, thanks to Drake and his team mobilizing efforts. Billboard has reached out to Drake’s reps for comment.

“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.”

GQ Italia continues to report that the $40 million came from a group of North American investors and heavily credited the 6 God’s involvement. The new ownership crew formed an Operating Committee to “oversee the strategic direction of the club.”

“Matte was my first call when I knew the club needed help,” Katsuyama said. “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.”

Venezia FC also struck an apparel partnership deal with Drake’s Nocta line, who helped design their new uniforms. The club has made a €315 million investment into building a new stadium and indoor arena with state-of-the-art facilities, which the team hopes to open in Venice for the start of the 2027 season.

Green Day Releasing Huge ‘American Idiot’ 20th Anniversary Deluxe Edition With Unreleased Demos, Rare B-Sides, Bonus Songs

Source: GQ Italia, Billboard