House of Doge takes big stake in old Italian soccer club currently in last place

House of Doge, the corporate arm of the Dogecoin Foundation, has become the largest shareholder in a struggling Italian soccer club.

With its "merger partner" Brag House Holdings, House of Doge said in a statement Monday that it has become the largest equity holder in U.S. Triestina Calcio 1918, which is currently sitting in last place in Serie C of Italy's professional soccer league, according to a statement.

"This groundbreaking transaction marks the first time a European football club has brought a cryptocurrency commercialization vehicle directly into its ownership structure," the company said.

Monday's announcement follows last week's news that House of Doge plans to go public through a reverse takeover agreement with Brag House, which is an esports company catering to college students.

House of Doge said it will support the club with an immediate investment meant to "strengthen football operations and community initiatives while working with club leadership to integrate cryptocurrency in practical, fan-friendly ways." The amount of the investment was not included in the statement. Using crypto to buy tickets, pay for concessions ,and merchandise are all possibilities, according to House of Doge.

While crypto-based companies have spent millions advertising with professional sports leagues, having a connection to how teams are managed is new, but not unheard of. Solana digital asset treasury Brera Holdings is an Ireland-based owner of middling professional soccer clubs.

"Our investment in U.S. Triestina 1918 is about much more than football,” said House of Doge CEO Marco Margiotta . "This is a first step in bringing the spirit of Dogecoin directly into the fabric of the world's game."