Drake, the popular pop star, has recently come to the rescue of Italian Serie A club Venezia, helping them avoid bankruptcy and relegation. The club, which was founded in 1907, had been promoted to the top flight last season after spending two years in the second tier. However, it was their spending during their previous stint in Serie A that led them to accumulate significant debt.
Facing the possibility of relegation to Serie D as a result of their financial troubles, Venezia’s chief brand officer, Matte Babel, who is part of Drake’s management team, reached out to the rapper for assistance. According to TMZ, Babel explained to GQ Italy that Drake was informed of the club’s urgent need to raise €10 million within a couple of weeks and an additional €30 million in the coming months to avoid bankruptcy.
Recognizing the importance of Venezia to the city of Venice and the club’s historical significance, Drake was determined to help. Within just two weeks, following Drake’s advice, Venezia managed to secure the funds they needed to stay afloat, receiving a substantial investment of around £31 million from North American investors.
The impact of Drake’s involvement in the world of football cannot be underestimated. With his global fame and brand reach, he brings tremendous value to any football club. Matte Babel emphasized the importance of the intersection between culture and sport and the value of tapping into a brand like NOCTA, which aligns with both music and sports.
Thanks to the financial rescue, Venezia has been able to strengthen their squad with new signings as they prepare for their upcoming Serie A campaign. Additionally, there has been investment in upgrading the club’s facilities, with the work expected to be completed before the 2027/28 season.
Drake’s intervention in saving Venezia highlights the growing trend of celebrities and musicians getting involved in the world of football. It showcases the increasing intersection between entertainment and sports, with stars like Drake using their influence and resources to support struggling clubs. This not only helps these clubs financially but also raises their profile on a global scale.
Furthermore, Drake’s involvement in Venezia’s rescue underscores the significant financial challenges that many football clubs face. It serves as a reminder that even established clubs can find themselves in dire financial situations, emphasizing the importance of responsible financial management and sustainable spending.
Overall, Drake’s assistance to Venezia has not only saved the club from bankruptcy but has also brought attention to the club and the city of Venice. It demonstrates the power of collaboration between different industries and the positive impact that can be achieved when celebrities use their influence for the greater good.