Drake, the popular pop star, recently came to the aid of Italian Serie A club Venezia, helping them avoid bankruptcy and relegation. Founded in 1907, the club was promoted to the first division last season after spending two years in the second division, but it was expenses during their previous stint in Serie A that left them in significant debt.
Faced with the club’s financial difficulties, which could see it relegated to Serie D, Matte Babel, Venezia’s chief brand officer and part of Drake’s management team, turned to the rapper for help. According to TMZ, Babel told GQ Italy that Drake had been informed that the club urgently needed to raise €10 million within a couple of weeks and another €30 million in the coming months to avoid bankruptcy.
Aware of Venezia’s importance to the city of Venice and the club’s historical significance, Drake was determined to help. Within just two weeks, Venezia managed to follow Drake’s advice and raise the funds needed to stay afloat, receiving a significant investment of around £31 million from North American investors.
The importance of Drake’s involvement in the world of football cannot be underestimated. With his global fame and brand reach, he brings tremendous value to any football club. Matte Babel stressed the importance of the intersection between culture and sport and the value of a brand like NOCTA that combines both music and sport.
Thanks to the financial rescue, Venezia was able to strengthen its squad with new signings and prepare for the upcoming Serie A season. In addition, investments were made in modernising the club’s facilities, with the work expected to be completed before the 2027/28 season.
Drake’s intervention in saving Venezia highlights the growing trend of celebrities and musicians getting involved in the world of football. It shows the increasing intersection between entertainment and sport, with stars like Drake using their influence and resources to support struggling clubs. This not only helps these clubs financially, but also increases their standing on a global level.
Furthermore, Drake’s involvement in Venezia’s rescue highlights the significant financial challenges facing many football clubs. It is a reminder that even established clubs can find themselves in difficult financial situations and underlines the importance of responsible financial management and sustainable spending.
Overall, Drake’s help to Venezia not only saved the club from bankruptcy, but also brought attention to the club and the city of Venice. It shows the power of collaboration between different industries and the positive impact that can be made when celebrities use their influence for the greater good.
