Paystack’s Shola Akinlade buys majority stakes in Danish club Aarhus Fremad

Shola Akinlade, co-founder and chief executive officer (CEO) of Paystack, has purchased 55 percent ownership shares in Aarhus Fremad, a Danish third-tier division club. 

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.”

We’re delighted to announce that we now have a sister club, @Aarhus_Fremad 💙💛.

More about the partnership on our website 👇🏾https://t.co/jAayxjojmJ pic.twitter.com/3wsnFFIAf9

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— Sporting Lagos (@SportingLagos) March 28, 2023

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.

Hey, @SportingLagos 🤝

We are extremely happy to welcome you into our family, and we can't wait to get started on our cooperation 💛🖤💙

See you soon 👋 pic.twitter.com/GoOFcCGS33

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— Aarhus Fremad (@Aarhus_Fremad) March 28, 2023

“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 at large. I have the utmost confidence in Lars Kruse’s continued leadership as CEO, and together, we will strive to maintain the values and long-term goals that have made these clubs such a cherished part of their respective communities.”

Aarhus Fremad was founded in 1947. The club has been in a deficit of two million kroner about N89.6 million in the last two years.

The team sits top of the Danish third-tier division after 20 games played.