Co-founder and Paystack CEO Shola Akinlade has acquired 55 percent of the ownership stake in Danish third-tier division club Aarhus Fremad.
The agreement was disclosed in a statement posted on social media on Tuesday by the Danish side.
Aarhus Fremad will also join Sporting Lagos FC, a Nigeria National League (NNL) team established by Akinlade in 2022, as a sister club as a result of the agreement.
According to the statement, “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.”
“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 about the deal, Akinlade stated that a shared commitment to engaging and empowering local communities led to his investment in the Danish club.
He added that the deal will create an environment that fosters education, growth, and opportunity for players of both clubs and the community at large.
He expressed his honour and excitement at starting this new chapter with Aarhus Fremad. The club was established in 1947 and over the past two years, it has run a loss of two million kroner, or 89.6 million Naira.
The team sits top of the Danish third-tier division after 20 games played this season.
