Shola Akinlade, the co-founder and CEO of Paystack, has acquired a majority stake of up to 55% in Aarhus Fremad, a Danish second-tier football club. This acquisition comes after Akinlade established Sporting Lagos in his hometown, Nigeria, which plays in the second tier of the Nigerian league. Aarhus Fremad has been facing liquidity issues, and Akinlade's acquisition is expected to provide much-needed financial stability for the club.
Aarhus Fremad leads the Danish second division and is a strong contender for promotion to the country's second-best tier. Akinlade's acquisition provides an opportunity for players from Sporting Lagos to come to Europe. This is a significant milestone for Akinlade, who now owns the largest stake in two football investments, one in Nigeria and one in Denmark.
Akinlade sold Paystack for $200 million to Stripe in 2020 and is now focused on investing in football. He believes that football can be a powerful tool for economic development in Africa. The acquisition of Aarhus Fremad is expected to strengthen Akinlade's commitment to developing football in Nigeria and Denmark. The cooperative club agreement with Sporting Lagos will allow for the exchange of players, coaches, and technical expertise between the two clubs.
The club director of Aarhus Fremad, Lars Kruse, expressed his excitement about the acquisition, saying that Akinlade's investment will provide the financial stability that the club needs to compete at a higher level. He also revealed that it was Akinlade who approached Aarhus Fremad, seeking advice on which club to invest in.
The acquisition of Aarhus Fremad by Shola Akinlade is significant and highlights the growing interest in football investment by African entrepreneurs. It is expected that more African investors will follow Akinlade's example and invest in football clubs in Europe and other parts of the world.
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