Drake steps in to save much-loved Italian club from going BUST by helping raise more than £31million

POP STAR Drake has helped save Serie A side Venezia from going bankrupt.

The club, founded in 1907, were promoted to Italy’s top flight last season after two years in the second tier.

Rapper Drake has helped struggling Serie A club VeneziaGetty

Venezia were facing relegation down to the fourth tierGetty

But it was their spending during their last stint in Serie A – the 2021/22 campaign – that landed them in huge amounts of debt.

Those financial problems were threatening to earn them a severe punishment which could have come in the form of relegation down to Serie D.

According to TMZ, Venezia’s chief brand officer Matte Babel, a part of Drake’s management team, then put in a call to the rapper.

And he used his expertise to help the Venice-based club out of their economic hole.

Babel told GQ Italy: “He [Drake] laid out the problem, simply — Venezia needs to raise ten million euros in a couple weeks, and then at least thirty million euros 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, and then Brad [Venezia co-owner Brad Katsuyama] and I discussed how we could help.”

Within a fortnight, on Drake’s advice, Venezia had raised the funds needed to avoid going bust, receiving around £31million from North American investors.

Babel added: “The value of Drake to any football club is undeniable given his global superstardom and brand reach.

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“This intersection of culture and sport is exactly where we want to be and as a sports organization the ability to tap a brand like NOCTA that also teeters the same line is incredibly valuable.”

Since then, Venezia bosses have bolstered their squad with new signings as they prepare for Serie A football.

There has also been investment into upgrading club facilities – work that is projected to be completed ahead of the 2027/28 season.