Brera board approves Solmate pivot, cuts soccer teams to focus on 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.
Related: Crypto treasury companies likely to consolidate in 2026
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.
Solmate, currently operating under the Brera name, plans to build institutional-grade Solana staking and validation infrastructure in the UAE with support from regional partners and investors. The company is backed by firms including ARK Invest, RockawayX and Pulsar Group.
Cointelegraph reached out to Brera for comment, but had not received a response by publication.
Related: Peter Thiel’s Founders Fund dumps ETHZilla stake as ETH treasuries face pressure
Brera raises $300 million
In September 2025, Brera announced rebranding plans after raising $300 million in an oversubscribed private investment in public equity (PIPE) backed by Pulsar Group, ARK Invest, RockawayX and the Solana Foundation.
The move comes amid a growing number of publicly traded companies shifting toward crypto treasury strategies, following a model popularized by Micahel Saylor’s Strategy. However, the strategy has not worked out for every company.
ETHZilla, which launched with an Ethereum-focused treasury model, later pivoted again after struggling to sustain momentum.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US PPI report to test Bitcoin, gold and Nasdaq as December rate hike looms
Nvidia falls to its lowest valuation in 14 years! "Super bull" Tom Lee calls for bottom fishing, retail investors are buying more as it drops, but Wall Street is divided
After the market opened on Thursday, retail investors went against the trend and bought up Nvidia, with net purchases reaching $111 million in just half an hour, setting a record for the same period. Investors such as Tom Lee have publicly supported the company, with institutions optimistic about strong order backlogs extending to 2028, robust revenue growth, and opportunities created by declining valuations. Meanwhile, institutions like Bernstein and Goldman Sachs have become more cautious about Nvidia's outlook, with concerns focusing on management succession and technological leadership following Jensen Huang's departure.
Jane Street boosts Fidelity Bitcoin ETF stake 8x in Q3, trims BlackRock IBIT
From SpaceX to Anthropic, the market has new strategies for dealing with tech giants' IPOs
The market's response strategies to major listings are currently centered around "index inclusion expectations": the new regulations allow mega IPOs to be included in the six major indices within 15 days, triggering concentrated buying by passive funds. Investors are positioning themselves in advance and using options to hedge and amplify buying power. However, Anthropic has a free float of only about 6%; shares available for sale by employees on the first day and privately placed shares with no lock-up period may create supply pressure. On the other hand, index arbitrageurs are facing a rare opportunity.
Crypto prices
More
