The famous American rapper invested $43 million in the Serie A club and saved it from bankruptcy

The Italian club Venezia has returned to Serie A after last season’s success. Previously, they competed in Italy’s top division during the 2021/22 season, but immediately finished last and were relegated back to Serie B. At that time, the team accumulated significant debts, having spent over $21 million on the transfer market, according to data from Transfermarkt.

Last season, Venezia faced severe financial difficulties. This prompted the team's chief brand officer, Drake Matty Babel, to reach out to his friend and co-owner of the club, Brad Katsuyama.

According to GQ Italy, Katsuyama told Babel that they initially needed to raise €10 million, followed by another €30 million, to avoid bankruptcy.

An unexpected investor responded to this call. The famous American rapper Drake, along with other unnamed individuals, invested a substantial sum—$43 million—into the club. This infusion of capital allowed the team to stay afloat and ultimately win Serie B, securing promotion to the top tier.

"Venice is an incredible city, and the Venezia football club has always been special," said Babel.

"I spoke with Drake, and then Brad and I discussed the details of how we could help. Within two weeks, we closed the deal, raised the necessary funds to pay salaries, and avoided bankruptcy."

Drake, a well-known sports enthusiast, is famous for his deep interest in sports betting and is a passionate supporter of the Toronto Raptors from his hometown. He serves as the global ambassador for the Raptors, and the team’s training facility is named after his record label, OVO (October’s Very Own).

Now, the American rapper will collaborate with Venezia, and the club has signed a contract with his subsidiary company, Nike NOCTA, to produce football kits for the team.