Drake helps raise $40 million for Italian soccer club

As an Italian football club faced bankruptcy, an unexpected hero appeared on the doorstep of Venezia FC, ready to lace up his shin pads.

Accordingly GQ ItalyDrake played a key role in raising $40 million for the Venice-based soccer club, which allowed it to stay afloat in Serie A. The franchise was at risk of filing for bankruptcy at the start of the 2023-2024 season and potentially being relegated to the lowest division of Serie D if it performed poorly.

“I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine,” said Matte Babel, CBO of Drake and also in management. “He explained the problem to me very simply: Venezia has to raise 10 million euros in a few weeks and then at least 30 million euros in a few months, otherwise the club will go bankrupt.”

Babel called Drake and immediately the ball was set rolling to help Venezia FC get back on its feet. Thanks to the mobilization of Drake and his team, it took just two weeks to raise the money needed to end the bankruptcy. Billboard has reached out to Drake’s representatives 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 reached an agreement, raised the money needed to pay the salaries and avoid bankruptcy.”

GQ Italy further reports that the $40 million came from a group of North American investors and gives much credit to 6 God’s involvement. The new owners formed an operating committee to “oversee the strategic direction of the club.”

“Matte was my first call when I knew the club needed help,” said Katsuyama. “Drake’s value to any football club is undeniable, given his stature as a global superstar and the reach of his brand. This intersection between 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.”

Venezia FC has also signed a clothing partnership deal with Drake’s Nocta line, which is helping to design the new uniforms. The club has invested 315 euros in the construction of a new stadium, an indoor arena with state-of-the-art facilities that the team hopes to open in Venice at the start of the 2027 season.