When legendary Italian football club Venezia FC faced the grim prospect of bankruptcy, a surprise 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 crucial role in raising $40 million to keep the club afloat in Serie A, Italy’s top football league.
Venezia FC, a club with a rich history and close ties to the city of Venice, was on the brink of financial collapse as it prepared for the 2023-2024 season. Without immediate financial help, the club risked not only bankruptcy but also a humiliating relegation to Serie D, the lowest division in Italian football. The situation seemed hopeless 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 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 problems, explaining that they needed to raise €10 million within a few weeks and another €30 million shortly after to avoid 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,” said Babel. “I spoke to Drake and then Brad and I discussed the details of how we could help. Within two weeks we had reached an agreement and raised the money needed to pay the salaries and avoid bankruptcy.”
Drake has raised $40 million to save Italian soccer club Venezia FC from bankruptcy. ⚽️ pic.twitter.com/vRiRcAES89
— No Jumper (@nojumper) 9 August 2024
Thanks to the quick 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 crediting Drake’s instrumental role in mobilizing the funds. The funds were used not only to stabilize the club financially, but also to ensure that the team can continue to compete at the highest level in Serie A.
In addition to the financial rescue, Drake’s commitment to Venezia FC went beyond simply raising funds. The club has since entered into an apparel partnership with Drake’s Nocta line, which will help design the team’s new uniforms. This collaboration represents a significant cultural crossover between sport and fashion, and underscores the influence Drake’s brand has on a global level.
Brad Katsuyama highlighted the value of Drake’s involvement, stating: “Drake’s value to any football club is undeniable, given his stature 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 partner with a brand like NOCTA that is moving in the same direction is incredibly valuable.”
Looking ahead, Venezia FC plans to invest €315 million in the construction of a new stadium and hall with state-of-the-art facilities, to be inaugurated in Venice at 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 decisive intervention led by Drake.
Drake’s efforts to save Venezia FC demonstrate not only his passion for the sport, but also his ability to use his influence to create impactful, real-world change. For the club, his commitment marks a new chapter of stability and growth, and ensures that Venezia FC remains a valued part of Venice’s cultural and sporting landscape.
Shivam Kumar
Hi, I’m Shivam Kumar. I’m studying Journalism with Honours from IP University. I love writing and am excited to learn more about it. I also love travelling and experiencing new things every day….
