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Drake's $40M Lifeline Saves Venezia From Bankruptcy

 


Big-name rap artist Drake saved newly promoted Serie A team Venezia from going bankrupt last year.

Drake kept Venezia from going bankrupt.
Third place in Serie B earned them promotion.
A phone call got the rapper to help them out.

It was almost time for the Venice-based club to file for bankruptcy after spending a lot of money to improve their team during the 2022–23 season to stay in the Italian second division.

The club had to sign almost 30 players to avoid being relegated to Serie C during the 2022–23 season. However, the huge spending hurt their finances, and they had to sell players to make money or risk being sent to Serie D.

 At that point, Brad Katsuyama, co-owner of the club, called Drake's brand manager, Matte Babel, to explain what was happening. The singer came on board as soon as possible to save the club's money.

I got a call from Brad, who owns Venezia with me and is a good friend. He told me about the deal between Drake and the club. He clarified that Venezia needs to raise €10 million in two weeks and at least €30 million in a few months, or the club will go bankrupt.

"Venice is a beautiful city, and Venezia has always been a unique club." Drake and I talked, and then Brad and I discussed how to help. It only took two weeks to make a deal, raise the money we needed to pay the staff and stay out of bankruptcy.

Drake made a huge difference for the Winged Lions, who won third in Serie B in 2023–24 and earned a spot in the top division. They will play their first game of the new season in the Coppa Italia on Sunday against Brescia.

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