Brera to Wind Down Soccer Teams as it Pivots to Solana Infrastructure
Brera's board approved pivoting the company to Solana infrastructure, which involves shutting down two soccer teams and proposing a reverse stock split.Summary
Brera Holdings' board has approved a strategic pivot to focus on Solana (SOL) infrastructure, staking, validation, and treasury services, primarily based in Abu Dhabi. This shift requires shareholder approval and includes renaming the company to Solmate Infrastructure. To support this transition, Brera plans to wind down its underperforming Brera Tchumene and Brera IIch soccer teams, retaining only its Italian club, Juve Stabia, and redirecting funds toward the Solana strategy. Furthermore, the board backed a 10-for-1 reverse stock split to bring the share price into a range more suitable for institutional investors, which will be voted on April 7. The company, which previously raised $300 million in a PIPE round backed by firms like ARK Invest and RockawayX, will trade under the ticker SLMT.
(Source：Cointelegraph)