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 $200m acquisition by Stripe in 2020. Now Akinlade is turning his attention to the football world, with his recent acquisition of Aarhus Fremad being a key step in his ambitious plan to build a football empire.

Akinlade’s acquisition of a 55 per cent stake in Aarhus Fremad is a smart business move. The partnership between his own Nigerian team, Sporting Lagos, and Aarhus Fremad will allow him to set up a “top class academy” at Sporting Lagos. This would allow him to identify and develop young players with potential and send the best players to Aarhus Fremad to gain valuable experience in the Danish leagues.

This approach creates a win-win situation for both clubs. Aarhus Fremad will gain access to a pool of talented African players, while Sporting Lagos can offer their players a clear path to reach the highest levels of European football. From a financial point of view, Akinlade could potentially earn millions of euros in transfer fees by nurturing players at Sporting Lagos and selling them to clubs in Belgium, the Netherlands or Turkey. Both Sporting Lagos and Aarhus Fremad would be entitled to part of those fees under FIFA rules.

The success of this business model has been demonstrated by other European clubs such as FC Nordsjælland, who set up an academy in Ghana to discover young African talent. The 2020 transfer of Ghana’s Mohammed Kudus from FC Nordsjaelland to Ajax Amsterdam, as reported by BBC Sports, underscored the unique ties the Danish club have with African football. Ajax reportedly paid around $10m for 19-year-old Kudus, giving the Danish club a significant financial boost. With his acquisition of Aarhus Fremad, Akinlade could potentially replicate that success on a larger scale.

Regarding the acquisition, Akinlade said his investment in the Danish club stemmed from a “shared commitment to engaging and empowering local communities”. He added that the partnership between Sporting Lagos and Fremad would “create an environment conducive to education, growth and opportunity for our players and the community at large.” “I am truly honored and excited to begin this new chapter with Aarhus Fremad and to advance our shared commitment to engaging and empowering local communities,” said Paystack CEO.

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