Venice, how Drake saved the company from bankruptcy

Music for the speakers VeneziaThe club was on the verge of bankruptcy, but the financial intervention of the American rapper Drake guaranteed him a future. But what does the very popular singer (145 million followers on Instagram) have to do with a newly promoted Italian club?

Venice’s financial problems

Gq revealed the secrets of this unexpected bond. It all starts with a phone call. Brad KatsuyamaCanadian businessman and co-owner of the Venezia, calls Matte BabelDrake’s chief brand officer, to explain the problem. “I got a call from Brad, a member of the club and a good friend of mine,” Babel says. “He explained the problem to me in a simple way. Venezia —he continues— must raise ten million euros in a couple of weeks, and then at least thirty million euros in a few months, or the club will go bankrupt.”

Drake and the money to save Venice

The exchange of jokes takes place during the 2023/24 seasonwhen Venice orbits in the top positions of the Serie B. An optimal situation in terms of results, but disastrous from an economic point of view. The expenses incurred after the 2021 promotion were still weighing on the budget. The immediate relegation, the following year, certainly did not help. A miracle was needed. Here it is: “Venice is an incredible city and Venezia has always been a special club. I spoke with Drake — continues Babel — then Brad and I discussed the details of how we could help. Within two weeks we reached an agreement, raised the money needed to pay the salaries and avoid bankruptcy”. Forty million euros raised by a group of North American investors, some long-standing and many new, thanks above all to Drake and his team. All this to save Venezia from bankruptcy and from restarting from Serie D.

Venice, back to Serie A

With this move, Venezia has also had success off the pitch: by winning the play-offs against Cremonese, they achieved their second promotion in three years. “Drake’s value to any football club is undeniable, given his size 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 opportunity to collaborate with a brand like Nocta, who moves along the same lines, is incredibly valuable”. This is the comment of entrepreneur Katsuyama.

Venice, Operation Salvation

Nocta is a sub-label of the giant Nikecreated by rapper Drake himself. The brand will dress Venezia from next season. Because the club wants to win with style, relying on its key players such as the striker Joel Pohjanpalo and to new purchases, above all Gaetano Oristanio. To stay in Serie A the club will have to beat the competition of many teams, but the premises to fuel the dream are not lacking. Who knows if it was all foreseen, almost as if it were a God’s plan (God’s plan), as Drake sings.