Shola Akinlade, Paystack’s co-founder and CEO, bought 55% of Aarhus Fremad, a second-tier Danish team.
The 76-year-old Danish club will become a sister club to Sporting Lagos FC, a Nigeria National League team created by Akinlade in 2022.
Sporting said the deal will give its top teams European exposure and aid its youth football development.
“I am truly honored and excited to embark on this new chapter with Aarhus Fremad and further our shared commitment to engaging and empowering local communities,” Akinlade said of the acquisition.
“By strengthening the relationship between Sporting Lagos and Aarhus Fremad, we aim to create an environment that fosters education, growth, and opportunity for our players and the community. I trust Lars Kruse as CEO, and we will work together to preserve the values and long-term aims that have made these clubs so beloved in their communities.”
Lars Kruse said of the investment, “It has been an exciting process, from when I first heard that they had spotted us in Fremad all the way from Nigeria to where we are standing now.
“It is fantastic that there are people with the right mindset who see football as a catalyst for many other things, and in terms of values, Sporting Lagos is a Nigerian Aarhus Fremad. The agreement gives Fremad a wider view and international scope.
Arhus Fremad leads the 2nd division and may be promoted.
Despite this, CEO and former main equity owner Lars Kruse covers the club’s deficit.