Founded in 1907, Venezia was promoted to Italy’s top flight last season but excessive spending pushed the club to the brink of bankruptcy, with financial issues potentially leading to relegation to Serie D.
It’s understood that the club incurred massive debts from its significant spending in the 2021-22 Serie A season. According to TMZ, renowned rapper Drake, leveraging his expertise in football, helped Venezia overcome its financial distress.
Following Drake’s involvement, Venezia secured around £31 million from investors in North America within two weeks, saving the club from bankruptcy.
A Venezia executive said: “Drake simply laid out the club’s problems. He then said the club needed to raise at least €10 million within a few weeks, followed by €30 million in the coming months. We then discussed the details, and Drake used his brand value to help the club.”
Venezia has now begun signing new players ahead of the upcoming Serie A season.
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