18 October – The growth of non-domestic ownership of clubs in the 5 major European leagues is no longer a new phenomenon, but the trend of US ownership in the English Premier League and Italian Serie A is increasing.

The Football Benchmark report catalogs the number of US investors who now control 24 clubs in the Big 5 leagues, 10 of them in England and eight in Italy. Expanding beyond the US, 27 clubs are now owned by North American shareholders.

The report said the attractiveness of European clubs was driven “by two main factors: low acquisition costs and large growth potential”. Added to this is the belief among US investors that there is open income potential.

The low cost of entry compared to US sports franchise ownership suggests that American investment is not in short supply.

Football Benchmark highlights the Italian Serie A as particularly attractive for US investment due to its greater revenue growth opportunities compared to the already high-flying Premier League.

“In Serie A alone, nine clubs—Atalanta, Bologna, Fiorentina, Genoa, Inter, Milan, Parma, Roma and Venice—are under North American control. With Genoa potentially moving on due to the failure of 777 Partners, another North American owner could soon enter the Italian football scene, as Italian-American investor Mario Gabelli is in talks for Monza,” the report said.

Football Benchmark shows Germany as a distinct country in terms of foreign ownership, with RB Leipzig being the only club under foreign control, with the majority of shares held by Austrian-based Red Bull. In contrast, the Premier League has only three clubs with majority owners based in England, and the remaining 17 clubs are controlled by foreign entities.

The report concluded: “As American investment funds and entrepreneurs flush with liquidity, many are turning their attention to football, recognizing a unique opportunity. They have two significant advantages: huge purchasing power and deep connections to the media and entertainment industry. European soccer, for these investors, often resembles the American professional league—a commercial spectacle ripe for exploitation through ever-evolving marketing strategies and the sport’s global reach.”

But things didn’t always go smoothly: “Despite ambitious plans, American company owners repeatedly faced bureaucratic and political obstacles, slowing their efforts. There is a risk that continued frustration may eventually cause some people to rethink their investments, and possibly lead to setbacks.”

However, it is unlikely that this will happen.

“Chelsea FC and AC Milan, the two biggest US-led acquisitions of 2022, sold for €2.9 billion and €1.2 billion respectively. “These figures, while significant, pale in comparison to the valuations seen in major American sports leagues, making European soccer an attractive option for North American investors,” the report said.

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