Brera board approves Solmate pivot, cuts soccer teams to focus on Solana

Nasdaq-listed Brera plans to rebrand as Solmate, wind down two soccer teams and propose a 10-for-1 reverse stock split as it pivots toward Solana.

Brera Holdings’ board has approved a plan to shift the Nasdaq-listed company toward Solana infrastructure and treasury operations, while shutting down two of its soccer teams and proposing a reverse stock split to support the move.

The proposal, which still requires shareholder approval, would rename the company Solmate Infrastructure and narrow its focus to building Solana (SOL) staking, validation and treasury services, according to a Tuesday announcement. The company said Abu Dhabi will be its main base for these operations.

“By focusing our capital and corporate identity on Solana, we are positioning ourselves to be a central player in the region’s rapidly expanding digital economy,” said CEO Marco Santori.

As part of the transition, Brera plans to wind down its Brera Tchumene and Brera IIch soccer teams, which the company described as underperforming. It will keep its Italian club Juve Stabia, while redirecting funds from the closed teams toward its Solana infrastructure strategy in the United Arab Emirates.

Brera board backs 10-for-1 reverse stock split

The board also backed a 10-for-1 reverse stock split, a move aimed at placing the company’s shares in a price range more common for institutional investors. The measure will be put to shareholders at a meeting scheduled for April 7.

If approved, every 10 existing shares will be consolidated into one share with a higher nominal value. The company’s stock will continue trading on Nasdaq under the ticker SLMT, and the reverse split will not change the proportional ownership of shareholders.