Paystack co-founder adds new club to portfolio, buys Danish club Aarhus Fremad

Nigerian tech mogul Shola Akinlade has acquired a 55% stake in Aarhus Fremad, a second-division Danish football club.

The acquisition was announced by the club in a statement on Facebook.

Akinlade, who currently resides in the United States, is the CEO of payment solution platform Paystack and also owns the Sporting Lagos football club in Nigeria, which will now become Aarhus Fremad’s sister club.

Despite the change in ownership, Lars Kruse, the director of Aarhus Fremad, has stated that there will be little change at the club.

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Kruse told Aarhus Stiftstidende, “It’s actually so boring that there won’t be any changes. The plan is to continue with the setup we have. There are of course some investments that are right on the nose – some fitness equipment, GPS trackers on players, and so on.”

Currently leading the second division, Aarhus Fremad is in a strong position for promotion to the country’s second-best league. However, Akinlade has no immediate ambitions to reach the Superliga or to upstage AGFAarhus as the city’s flagship team (AGF Aarhus plays in the Danish SuperLiga).

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According to Kruse, “No, no, no. Not at all. We hope, of course, that the table will look like it does now when the season ends, but it’s not the end of the world if it doesn’t.”

With the acquisition, there will be opportunities for some Sporting Lagos players to come to Europe as insinuated in a Facebook post from Aarhus Fremad.

The post reads, “Hey, Sporting Lagos FC. We are extremely happy to welcome you into our family, and we can’t wait to get started on our cooperation. See you soon.”