Revealed: How rap icon Drake helped Serie A side Venezia escape bankruptcy in €40m fundraiser

The Venice-based club were on the brink of declaring themselves bankrupt after spending heavily to strengthen their squad during the 2022-23 season in order to keep themselves afloat in the Italian second division.

The club signed close to 30 players to survive relegation to Serie C during the 2022-23 season, but the massive spending took a toll on their financial health as they then had to sell players to raise money, or risk falling to Serie D. That is when club co-owner Brad Katsuyama got in touch with Drake's brand officer Matte Babel to explain their situation. Soon enough, the musician was on board to bail the club out financially.

Speaking to GQ on the deal between Drake and the club, Babel said: "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.

"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."

Drake's contribution helped the Winged Lions massively as they finished third in Serie B in the 2023-24 campaign and secured a place in the top division. They will kick off the new season on Sunday with a game against Brescia in the Coppa Italia.