Renowned rap artist Drake played a pivotal role in rescuing Serie A club Venezia from the brink of bankruptcy. The Venice-based team faced severe financial difficulties after a spending spree during the 2022-23 season, aimed at bolstering their squad to avoid relegation from Serie B. Despite signing nearly 30 players to maintain their league status, the club’s financial health deteriorated, forcing them to consider player sales or risk dropping to Serie D.
In a bid to save the club, co-owner Brad Katsuyama reached out to Drake’s brand officer, Matte Babel, to explain the dire situation. Babel recounted, “I got a call from Brad, 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 in a couple of weeks, and then at least €30 million in a few months, or the club will go bankrupt.”
Recognizing the significance of Venezia and the city of Venice, Babel discussed the situation with Drake. Together with Katsuyama, they formulated a plan to provide the necessary financial support. “Within two weeks we had a deal, raised the money needed to pay the salaries and avoid bankruptcy,” Babel explained.
Thanks to Drake’s intervention, Venezia managed to stabilize their finances and went on to finish third in Serie B during the 2023-24 campaign, securing promotion to Italy’s top division. The club is now set to begin the new season with a Coppa Italia match against Brescia, buoyed by the financial lifeline provided by the rap icon.
