Venezia FC, a long-standing Italian football club founded in 1907, was on the brink of bankruptcy but has made a significant recovery, thanks in part to Drake. The Venice-based club, popular in Italy and long-time Serie B contenders, has recovered from the brink of financial collapse.
After years of struggle, Venezia FC finally achieved promotion to Serie A in the summer of 2021, marking their first return to the top division in two decades.
Their stay was short-lived, however, as, according to TMZ, they finished last the following season and were relegated back to Serie B. The club then faced huge financial difficulties and was burdened by significant debt.
To avoid relegation to Serie D, co-owner Brad Katsuyama turned to his friend Matte Babel, a member of Drake’s management team and Chief Brand Officer. This connection proved crucial and helped the club stabilize its finances.
“He put the problem very simply: Venezia needs to raise ten million euros in a few weeks and then at least thirty million euros in a few months, otherwise the club will go bankrupt,” Babel told GQ Italy. “Venice is an incredible city and Venezia has always been a special club. I spoke to Drake and then Brad and I discussed how we could help.”
Within two weeks, Babel and his team secured $40 million from various North American investors to help Venezia FC pay salaries and avoid bankruptcy.
Babel noted that Drake’s involvement was instrumental in the successful completion of the deal.
“Given his global superstar status and brand reach, Drake’s value to any football club is undeniable. It is at this intersection of culture and sport that we want to be accurate and for us as a sports organisation, the opportunity to attract a brand like NOCTA that toes the same line is incredibly valuable,” added Babel.
Thanks to these investments, Venezia FC is now thriving, adding new talent and modernising its facilities. These improvements are expected to be fully implemented by the 2027/28 season.
