The board of Brera Holdings has approved a plan to move the Nasdaq-listed company to Solana’s infrastructure and treasury operations, while closing two of its soccer teams and proposing a reverse stock split to support the move.
The proposal, which still requires shareholder approval, will change Solmate Infrastructure’s name and narrow its focus to building Solana ( SOL ) services, approvals and treasury, according to an announcement Tuesday. Abu Dhabi will be its main base for these operations, the company said.
“By focusing our capital and corporate identity on Solana, we are positioning ourselves as a central player in the region’s rapidly expanding digital economy,” said CEO Marco Santori.
As part of the transition, Brera plans to drop football teams Brera Tchumene and Brera IIch, which the company described as underperforming. It will retain its Italian club Juve Stabia while channeling funds from the closed teams into Solana’s infrastructure strategy in the United Arab Emirates.
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The Brera board supports a 10-to-1 reverse stock split
The board also approved a 10-for-1 reverse stock split, a move to place the company’s stock within a price range popular with institutional investors. The measure will be put to shareholders at a meeting scheduled for April 7.
If approved, every 10 existing shares will be combined into one share with a higher par value. The company’s shares will continue to trade on the Nasdaq under the ticker SLMT, and the reverse split will not change the shareholders’ proportionate ownership.
Solmate, now operating as Brera, plans to build Solana’s institutional-grade infrastructure in the UAE with the support of 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 did not receive a response from the publication.
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Brera raises $300 million
In September 2025, Brera announced plans to rebrand after raising $300 million in a private equity investment in public equity (PIPE) backed by Pulsar Group, ARK Invest, RockawayX and the Solana Foundation.
The move comes as a growing number of publicly traded companies move to crypto treasury strategies, following the popular Michael Saylor Strategy model. However, the strategy does not work for every company.
ETHZilla, which started with an Ethereum-focused treasury model, later relaunched after struggling to keep pace.
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