Shola Akinlade: From fintech to football empire

Shola Akinlade is no stranger to successful business ventures. As co-founder of Paystack, he led the Nigerian fintech startup to a $200 million acquisition by Stripe in 2020. Now Akinlade is turning his attention to the world of soccer, with his recent acquisition of Aarhus Fremad a key move in his ambitious plan to build a soccer empire.

Akinlade’s purchase of a 55% stake in Aarhus Fremad represents a smart business move. The collaboration between his own Nigerian team, Sporting Lagos, and Aarhus Fremad will allow him to establish a “top-tier academy” at Sporting Lagos. This will enable him to identify and develop young players with potential and send the best players to Aarhus Fremad to gain valuable experience playing in the Danish leagues.

This approach creates a win-win situation for both clubs. Aarhus Fremad gets access to a pool of talented African players, while Sporting Lagos can give its players a clear path to reach the highest levels of European football. From a financial perspective, Akinlade could potentially earn millions of euros in transfer fees by grooming players at Sporting Lagos and selling them to clubs in Belgium, the Netherlands or Turkey. Both Sporting Lagos and Aarhus Fremad will be entitled to part of these fees in accordance with FIFA rules.

The success of this business model has been demonstrated by other European clubs such as FC Nordsjælland, which established an academy in Ghana to discover young African talent. The transfer of Ghana’s Mohammed Kudus from FC Nordsjaelland to Ajax Amsterdam in 2020, as reported by BBC Sports, highlighted the unique ties the Danish club has with African football. Ajax reportedly paid around 10 million dollars for 19-year-old Kudus, which gave the Danish club a significant financial boost. With its acquisition of Aarhus Fremad, Akinlade can potentially replicate this success on a larger scale.

Speaking about the acquisition, Akinlade said his investment in the Danish club stems from a “shared commitment to engage and empower local communities”. He added that the partnership between Sporting Lagos and Fremad would “create an environment that promotes education, growth and opportunities for our players and the community at large”. “I am truly honored and delighted to embark on this new chapter with Aarhus Fremad and continue our shared commitment to engage and empower local communities,” said the Paystack CEO.

With his keen business acumen and passion for football, Shola Akinlade is poised to make a significant impact on the sport in Africa. His acquisition of Aarhus Fremad represents a smart investment that could help revolutionize the development of football talent on the continent. As Akinlade’s football empire continues to grow, the future looks bright for African football.