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.
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