The co-founder of Paystack, Mr Shola Akinlade, has acquired a majority stake of up to 55% in Aarhus Fremad, a Danish second-tier football club.
This comes after he founded Sporting Lagos in his hometown of Lagos in 2022, which competes in Nigeria’s second-tier league, the Nigerian National League.
The acquisition of the Danish club will result in no major changes at the club’s headquarters in Riisvangen, according to the club’s director, Mr Lars Kruse.
He also revealed that the Nigerian businessman approached Aarhus Fremad, which was experiencing liquidity problems.
The move strengthens Akinlade’s efforts in Nigeria to use grassroots football for community development and social change.
Aarhus Fremad currently leads the second division and is a hot bet for promotion to the country’s second-best tier, and with the takeover, some Sporting Lagos players will have the opportunity to come to Europe.
Mr Akinlade, 38, now resides in North Carolina, USA, after selling Paystack, which he co-founded with Mr Ezra Olubi, to Stripe for $200 million in 2020.