This week football’s simmering issues around multiclub ownership topped the agenda at a Premier League shareholder meeting. Eight clubs voted to block a proposed ban on interlinked clubs loaning each other players, meaning those in favour fell short of the two-thirds majority required to get their way.
That means Newcastle United is clear to borrow footballers
from the four Saudi Pro League teams owned by the kingdom’s sovereign wealth
fund when the transfer window reopens in January.
The vote itself shone a light on some of the tensions and
contradictions within football over these issues. Some of the clubs that backed
a ban have clear connections to other clubs, such as Crystal Palace through its
shareholder Eagle Football, which also owns Olympique Lyonnais.
Yet those that knocked down the rule change included teams
that have no external ties, but perhaps have aspirations in that direction —
Burnley, for example.
The real benefits of multiclub ownership are still a subject
of much debate. But this week’s vote supports two recent trends: that the
direction of travel remains for more clubs to forge ownership ties, and that
the regulatory pushback is going to be modest or non-existent. This is the era
of football conglomerates.
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