Paystack CEO Shola Akinlade buys Danish football club

Nigerian IT billionaire Shola Akinlade has acquired a 55 percent stake in Danish second-division club Aarhus Fremad.

The deal was announced in a statement shared by the Danish club on social media on Tuesday.

The agreement will also see Aarhus Fremad become a sister club to Sporting Lagos FC, a team in the Nigeria National League (NNL) founded by Akinlade in 2022.

“There is per today’s date an agreement has been signed between the existing ownership circle and Shola Akinlade regarding the transfer of 55% of Aarhus Forward,” the statement reads.

“Shola Akinlade is a Nigerian IT entrepreneur and CEO of the Paystack software platform. On a daily basis, he runs the Sporting Lagos football club in Nigeria, which at the same time will act as a sister club to Aarhus Fremad.”

Speaking on the acquisition, Akinlade said his investment in the Danish club is due to a “shared commitment to engaging and empowering local communities”.

He added that the partnership between Sporting Lagos and Fremand would “create an environment that fosters education, growth, and opportunity for our players and the community at large”.

“I am truly honoured and excited to embark on this new chapter with Aarhus Fremad and further our shared commitment to engaging and empowering local communities,” the Paystack CEO said.


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