Drake Rescues Italian Soccer Team from Bankruptcy with $40M Fundraising Assistance

Canadian rapper Drake has played a pivotal role in rescuing the venerable Italian soccer club Venezia FC from the brink of bankruptcy.

According to reports, Drake helped raise a staggering $40 million to ensure the club's survival. The nearly 120-year-old team was in dire need of immediate financial support, requiring €10 million ($10.9 million) urgently and an additional €30 million ($32.7 million) shortly thereafter to stave off insolvency.

Drake's involvement came after Matte Babel, Chief Brand Officer of DreamCrew, Drake’s management company, received a call from Brad Katsuyama, co-owner of Venezia FC.

Babel recounted, "I got a call from Brad Katsuyama, co-owner of Venezia and a good friend of mine. He laid out the problem to me in a simple way: Venezia has to raise 10 million euro in a couple of weeks, and then at least €30 million in a few months, or the club will go bankrupt."

Babel then reached out to Drake, who quickly mobilized a group of North American investors to meet the financial demands.

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

The funds raised have not only stabilized the club but also allowed for major investments in new players and upgraded facilities.

Additionally, the city has pledged €315 million towards a new stadium and an indoor arena with state-of-the-art facilities, which the team hopes to have ready by the start of the 2027-28 season.