Descent funds have consistently moved into North American and European sports, especially since the pandemic receded. The most recent development came just a week ago when Arctos Partners increased its presence at Paris Saint-Germain, a club owned by a Qatari investment group holding about 12.5% of the shares. The club’s market value sits around 4.25 billion euros.
Arctos stands among the most active investors in United States professional sports, backing teams and brands across leagues. The Golden State Warriors in basketball, the Boston Red Sox in baseball, Aston Martin in Formula 1, and Liverpool FC in soccer have all benefited from its capital. They are not alone in this trend; the sports investment scene is expanding rapidly. A recent report indicates that roughly one third of football clubs across the five major European leagues are now partly or wholly owned by private equity funds.
The football world is evolving as international investment groups treat clubs as long term ventures. When financial pressures from the pandemic pressed clubs to seek liquidity, they turned to the strength of large capital pools. This shift has also coincided with the rise of multi-club ownership, a new phenomenon shaping the sport. City Football Group, for instance, owns Manchester City, Girona, and a dozen other clubs, a model that is increasingly visible throughout the game.
Television rights
The industry’s consolidation began with the Premier League, a league renowned for attracting heavyweight names, and it has since spread to other markets. The biggest single acquisition in football history occurred in England when an American group led by Clearlake Capital and financier Todd Boehly bought Chelsea for about 5 billion.
Another major move occurred in September when RedBird Capital Partners completed the purchase of AC Milan for around 1.2 billion. The deal places the company at the forefront of European football with ties to the 777 Partners fund. In Spain, Seville, Genoa, and Standard Liege are reportedly moving closer to taking stakes in Everton, with transactions projected near 700 million. These deals reflect a broader pattern of investment in both top division clubs and long term projects in lower tiers of the league system.
In Spanish football, private groups have also begun to shape the landscape. The league signed a deal with CVC Capital Partners worth about 2 billion euros in exchange for a share of television rights, a move that drew public attention from clubs like Barcelona and Real Madrid. The Bundesliga has pursued a parallel arrangement, signaling a European-wide expansion of private capital into football rights and related assets. These funds have ventured beyond first division teams, reaching into lower divisions and development projects across the system. Zaragoza, Alcorcón, Leganés, Castellón, and Algeciras are among the clubs affected by these shifts, with specific assets or loans linked to sizable investments for ambitious, long term projects.
The motive behind these investments
The primary aim cited by investors is to steer the club’s entertainment strategy, boost fan engagement, and grow commercial value. Such funds typically operate on a 7 to 10 year horizon, focusing on increasing consumption around the club and then monetizing that growth when opportunities arise. This approach emphasizes content creation and digital monetization as a core driver of value, not just the on pitch results.
One well known figure who popularized this approach described the strategy as leveraging entertainment to elevate a club’s market position. The idea is to secure a significant stake while expanding the club’s appeal through varied revenue streams. This often involves selling a portion of media rights or partnering with media platforms for longer term value creation, even as traditional sponsorships and matchday revenue continue to play a major role.
With the Camp Nou renovation and other large scale projects, the share of ownership structures in clubs remains partially opaque, as several investment groups prefer to operate behind the scenes. Barça Studios and a German fund are among the entities cited in these arrangements. The money is real, but the exact ownership details can be elusive, contributing to ongoing debate about transparency in football finance.
Why this momentum?
So why are these investment groups focusing on football? Financial Times reports that private equity sees clubs as valuable assets due to reliable growth trajectories. A comparative study by a market analysis firm suggests Europe’s 32 leading clubs grew in value by almost 96 percent between 2016 and 2023. That kind of growth outpaces many other industries, attracting the attention of global investors who want a piece of the action.
The appeal extends beyond match day revenue and sponsorships. Television rights and digital content—docuseries, streaming formats, and even emerging areas like non fungible tokens—offer scalable opportunities. The Premier League recently announced a record television deal worth 6.7 billion pounds over four years starting in 2025, underscoring the strong revenue engines behind the sport.
Industry observers emphasize that the goal is not merely to own a club but to turn it into a content powerhouse. An investment executive notes that funds aim to capture a major slice of control, drive the entertainment component, and rejuvenate the club’s value within a decade or so before exiting. The model is simple in theory, yet complex in execution given the emotional and competitive landscape of football.
Create content
Industry voices point to the potential of clubs as content creators with wide reach. Gerry Cardinale, founder of RedBird Capital, oversaw AC Milan’s purchase and acknowledged the broader entertainment opportunity. His remarks, echoed by other executives, suggest that football clubs can unlock substantial value by expanding beyond sport into media and branded experiences. The trend across Europe shows that private capital is willing to participate in varied ownership structures, balancing risk with the chance to unlock new revenue streams. The Paris Saint-Germain story illustrates a focused approach: attracting strategic partnerships that stabilize the balance sheet while pursuing growth in global markets. The net takeaway is clear—clubs are increasingly treated as multimedia brands with long term development potential rather than just sports teams, and this shift is reshaping the financial map of football across continents.