Shola Akinlade, the CEO and co-founder of Paystack, a technology company revolutionizing payments for African businesses, has recently made a significant investment by acquiring a majority stake of 55 percent in Aarhus Fremad, a Danish second-division club. This move establishes a partnership between Sporting Lagos FC, a Nigerian football club founded by Akinlade, and Aarhus Fremad, creating opportunities for European exposure for the Nigerian team and supporting the development of youth football in the country.

Expressing his enthusiasm about the acquisition, Akinlade stated that he feels honored to embark on this new chapter with Aarhus Fremad, emphasizing their shared commitment to engaging and empowering local communities. He envisions creating an environment that promotes education, growth, and opportunity for players and the broader community. Akinlade also expressed his confidence in Lars Kruse, the CEO of Aarhus Fremad, and highlighted their joint dedication to upholding the values and long-term goals that have made both clubs integral parts of their respective communities.

Lars Kruse, in response to the investment, expressed his excitement about the process and the alignment of values between Sporting Lagos and Aarhus Fremad. He emphasized the positive impact that football can have beyond the game itself and praised the international perspective that this partnership will bring to Aarhus Fremad’s operations.

Currently leading the 2nd division, Aarhus Fremad is on the verge of potential promotion to the country’s second-best league. However, the club has faced financial challenges, with Lars Kruse, the CEO and former primary equity owner, covering the deficit. The recent financial report revealed a loss of two million kroner over the past two years.

Lars Kruse candidly admitted that he sought assistance due to the club’s financial situation and expressed gratitude for finding the right partner in Shola Akinlade. The collaboration between Sporting Lagos and Aarhus Fremad presents an exciting opportunity for both clubs to thrive and achieve their shared vision of using football as a catalyst for positive change.

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