Drake helps Italian soccer team avoid bankruptcy

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An Italian football team that was on the verge of bankruptcy can breathe a sigh of relief thanks to Drake.

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Accordingly GQ Italy, Drake played a key role in raising $60 million for Venezia FC after the club was headed toward bankruptcy in the 2023-2024 season. The Serie A team needed to raise the funds to avoid financial ruin and potentially being relegated to a lower tier in the Italian soccer league.

“I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine,” said Matte Babel, who works as chief brand officer of DreamCrew, Drake’s management company and entertainment group. “He explained the problem to me in simple terms: Venezia needs to raise €10 million in a few weeks and then at least €30 million in a few months, or the club will go bankrupt.”

Babel turned to the Toronto rapper to come up with a plan to help Venezia FC get back on its feet.

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“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 reached an agreement, raised the money needed to pay the salaries and avoid bankruptcy,” said Babel.

“Matte was my first call when I knew the club needed help,” Katsuyama told the outlet. Billboard. “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 partner with a brand like NOCTA that is moving in the same direction is incredibly valuable.”

An investment team led by Drake helped the group achieve its goal of Hotline Bling The hitmaker’s fashion line NOCTA is developing The new uniforms of Venezia FC.

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Accordingly TMZthe team is now “thriving thanks to these investments” and has recently signed new players and invested in modernising the club’s facilities.

Billboard adds that the The city has pledged €315 million for a new stadium and indoor arena with state-of-the-art facilities, which the team hopes to complete by the start of the 2027/28 season.

Drake is no stranger to the sport. In addition to being a major bettor, he is also the global ambassador for the Toronto Raptors and helped design the team’s warm-up jerseys. His clothing brand OVO and record label also sponsor the team’s practice facilities at Exhibition Place in Toronto.

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