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Football's multi-club ownership crisis

In just four years, multi-club ownership has exploded, concentrating power in the hands of a few investor groups. This collection of articles will help you understand how MCO affects thousands of players, threatens fair competition, and exposes the sport to financial secrecy and crime.

In 2021, Play the Game began tracking multi-club ownership in football and its attendant governance problems. At the time, 156 clubs from around the world were found in 60 MCO groups. By early 2025 that number has more than doubled, with nearly 400 clubs controlled by 147 different owners or ownership groups, affecting thousands of football players.

This theme page collects articles which detail key developments in multi-club ownership since 2021 and the associated problems. Learn more about:

Accelerated growth: The number of clubs in MCO networks has more than doubled since 2021, with investor groups expanding aggressively across Europe, South America, Africa, and Asia.
Increased concentration: A few large investor groups now control dozens of clubs worldwide, strengthening their influence over player transfers, development, and market access.
Lack of regulation for players: Thousands of players are part of MCO groups without comprehensive regulations protecting their career development, contractual rights, and independence.
Rising concerns over integrity: The expansion of MCO has triggered widespread debate about conflicts of interest, fair competition, and the erosion of local club identity, with football bodies struggling to respond effectively.
Exposure to crime and financial opacity: Complex ownership webs within MCO structures have left football exposed to financial crime risks, including money laundering, due to difficulties in tracing ultimate beneficial owners.
Rise of untraceable power: Investors increasingly use opaque corporate structures and offshore vehicles, making it difficult for regulators, federations, and fans to identify who controls clubs and makes decisions that affect competition integrity.
Domestic ownership concentration: MCO is not only an international phenomenon; domestic multi-club ownership within the same country is growing, posing direct risks to national league integrity and competition fairness.