POPSTAR Drake helped save Serie A club Venezia from bankruptcy.
The club, founded in 1907, was promoted to the top Italian league last season after two years in the second division.
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But it was their spending during their last Serie A campaign – the 2021/22 season – that plunged them into huge debt.
These financial problems could have brought them a heavy punishment, which could have come in the form of relegation to Serie D.
According to TMZ, Venezia’s Chief Brand Officer Matte Babel, part of Drake’s management team, then called the rapper.
And he used his expertise to help the Venice club out of its economic crisis.
Babel told GQ Italy: “He (Drake) put the problem very simply: Venezia must 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.”
“Venice is an incredible city and Venezia has always been a special club. I spoke to Drake and then Brad (Venezia owner Brad Katsuyama) and I discussed how we could help.”
Within two weeks, on Drake’s advice, Venezia had raised the funds it needed to avoid bankruptcy, raising around £31 million from North American investors.
Babel added: “Drake’s value to any football club is undeniable given his global superstar status and brand reach.
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“This intersection between culture and sport is exactly what we want, and for us as a sports organization, the opportunity to leverage a brand like NOCTA that veers along the same lines is incredibly valuable.”
Since then, Venezia’s head coaches have strengthened their squad with new signings as they prepare for Serie A.
In addition, investments were made in modernising the club’s facilities. The work is expected to be completed before the 2027/28 season.
