Drake Helps Raise $40 Million for Italian Soccer Club to Avoid Bankruptcy
Venezia FC notched an apparel partnership with Drizzy's Nocta line for new uniforms.
Drake applauds the play on the floor. Toronto Raptors vs Philadelphia 76ers in 1st half action of NBA Playoffs, Round One series at ScotiaBank Arena.
When an Italian soccer club was staring down bankruptcy, an unlikely hero showed up at Venezia FC’s doorstep ready to lace up his shinguards.
According to GQ Italia, Drake played an integral role in helping raise $40 million for the Venice soccer club to stay afloat in Serie A. The franchise was looking at filing for bankruptcy heading into the 2023-2024 season and possibly being demoted to the lowest Serie D with a poor performance.
“I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine,” said Drake’s CBO Matte Babel, who also works in management. “He laid out the problem to me in a simple way: Venezia has to raise €10 million in a couple of weeks, and then at least €30 million in a few months, or the club will go bankrupt.”
Babel gave Drake a call and the ball was immediately rolling to help Venezia FC get back on its feet. It only took two weeks to raise the money needed to hang up the phone on bankruptcy thanks to Drake and his team mobilizing efforts. Billboard has reached out to Drake’s reps 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 a deal, raised the money needed to pay the salaries and avoid bankruptcy.”
GQ Italia continues to report that the $40 million came from a group of North American investors and heavily credited the 6 God’s involvement. The new ownership crew formed an Operating Committee to “oversee the strategic direction of the club.”
“Matte was my first call when I knew the club needed help,” Katsuyama said. “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 collaborate with a brand like NOCTA, who is moving along the same lines, is incredibly valuable.”
Venezia FC also struck an apparel partnership deal with Drake’s Nocta line, who help design their new uniforms. The club has made a €315 investment into building a new stadium, indoor arena with state-of-the-art facilities, which the team hopes to open in Venice for the start of the 2027 season.
