Sports ownership has evolved from wealthy families to diverse models. Private equity firms and public ownership now play significant roles. European soccer reflects this shift, with new owners reshaping traditional structures. The transformation spans various leagues and sports, altering the landscape of team management and investment.
Nick Miller, author of, “Who Owns Football?: The Changing Face of Club Ownership”, discusses the positives and negatives of the evolving landscape of football club ownership. Miller explains how fans of their favorite teams are now aware of ownership compared to years past.
“We probably knew the owners of a couple of the bigger teams, maybe some owners who were kind of particularly vocal in the media, Miller said. “But beyond that, we didn't really care.”
Fans are also aware of Saudi Arabia making major investments in sports and entertainment. This includes European teams such as Newcastle United as the Public Investment Fund of Saudi Arabia purchased an 80% stake in the team in 2021. Miller thinks that nation-states getting involved in any sports ownership is problematic.
“I don't think that a nation-state should own any kind of sporting institution, particularly a football club, because it kind of distorts the purpose of what that football club is,” Miller said. “The primary purpose of a football club, and maybe this is a kind of unrealistic idea in 2025, is that they should be run for the benefit of the team, and they should be some sort of community institution. So the priority should purely be as making the team as successful as they can on the pitch, and benefiting the local community as much as they can offer it.”
Ownership groups from America have seen the promising potential of owning European soccer clubs, such as the York family becoming majority owners of Leeds United in June 2023. But Miller thinks it is a mixed bag regarding the positive effect of American ownership
“I think there are now 12 of the Premier League clubs that either are owned by Americans or have kind of significant interest in them from some kind of Americans. And it's all kind of very understandable why that happens. But just like any other owners, there are good examples and there are bad examples”
While conducting research for his book, Miller was surprised to discover a football club founded by a YouTube creator, Spencer Carmichael-Brown, who created Hashtag United. The club went from exhibition matches around the world to joining the English football pyramid in 2018. However, when asked if other creators would be interested in owning a football, Miller is more skeptical.
“If for example, like Mr. Beast decided that he wanted to, to start a football club, I think that would be more of a struggle.”
Nick Miller is the author of the new book Who Owns Football? The Changing Face of Club Ownership (Bloomsbury Sport). Available to buy now.