UK Fans Worry American Owners Will Tarnish Their Football

Todd Boehly, an American financial and media executive, had to charm sporting and political power brokers earlier this year to triumph in one of the most fiercely fought takeovers in the history of football. The pressure on Roman Abramovich to sell the team to comply with sanctions stemming from the Ukraine invasion suddenly fulfilled the American's yearslong dream to own the club. Winning trophies without breaking the bank is the real challenge.

The sale proceeds of Boehly's acquisition must overcome last-minute haggling between the UK government andAbramovich. If it goes through, American money will back more than half of the 20 competing teams in the English premier league.

US owners have been divisive. They have largely seen their investments grow in the world's richest football division, but they have failed to match the success of rivals backed by billionaires from the East. It is set up for owners to make a return on capital. That is a significant culture clash.

Boehly beat out a host of his countrymen, and a late challenge from one of the UK's richest people, to reach a 4.3 billion dollar deal for the club.

The American influx into English football began in the early to mid-2000s when the Glazer family took charge at Manchester United FC. Since then, the United States has landed in the boards of some of the most famous clubs in the world.

High growth potential and lower valuations have attracted US investors to the EPL. The appeal of English football has opened the door to more lucrative broadcasting and merchandising opportunities.

According to a report from Deloitte, the revenue of the EnglishPL clubs in the current season was more than double that of a decade earlier. Media rights made up almost half of the figure, with an additional 28% coming from merchandise and sponsorship deals, and the rest from gate receipts.

Valuations at England's biggest clubs have been lifted by that milestone. The value of Manchester United when it was taken over by the Glazer family was estimated at 800 million dollars. It has a market value of over $1 billion. The value of the club was reported to be about 700 million dollars, but the family of Stanley Kroenke, who owns the Los Angeles Rams and the Denver Nuggets, increased their stake to more than half that amount in 2011.

The process of being moved down to a lesser league if they finish in the bottom three places in the division is something that many EPL teams struggle to be profitable because they spend so much on players and coaches.

The fans are more interested in the trophy than the bottom line. Manchester United and Arsenal used to duke it out for the title every year in the early 2000s, but neither has delivered enough lately. Their followers have had to watch as they have enjoyed their best years ever, bankrolled by Roman Abramovich and Manchester City FC, which is backed by the deputy prime minister of the United Arab Emirates.

Seven of the last 10 EPL titles have been won by Manchester City. Over that period, fans of the club have seen the club drift further from the top, with Robin van Persie, and other star players leaving for pastures new. The club's ability to attract talent has been hampered by recent failures to qualify for Europe's top league.

The American owners have treated it as a business and not as a fan, according to Turkish, who is a presenter on the YouTube fan channel.

When the club was taken over by the Glazers in 2005, they faced distrust from the beginning, though tensions were mitigated in the early years of their ownership.

Things changed after the coach retired. The club has had managers and big-money players before. The club's famous Old United arena is in need of renovation, and many see it as a metaphor for the club under the Glazers.

Both the Glazers and the Kroenkes have been the targets of fan protests in stadiums around and above them. Fans have decided to vote with their feet, leading to low attendance at non-EPL games.

A bigger concern for owners is the money that broadcasting rights generate, a chunk of which is contingent on qualification for the UCL every year, with ticket sales representing a club's smallest revenue source. Manchester United will miss out on next season because they haven't reached the tournament in two years.

Competition for slots in the tournament is expected to increase when the new Saudi Arabian owners of Newcastle United FC begin to exert their financial might. An extra spot may be offered based on the historical performances of the English clubs in the competition.

A group of Europe's biggest clubs took a huge risk last year to avoid missing out on the UCL. The owners of the three teams helped organize a new league that would have guaranteed them places in a new elite competition. After supporters protested the plans they said would have concentrated power and revenue in elite clubs, all were forced to backtrack and apologize.

Mitchell at Albachiara says that American owners probably will want to move toward a sporting model they are more comfortable with and that guarantees certainty about the competitions they are playing in.

Representatives for the other teams declined to comment.

There have been failures. In 2020, they won the EnglishPL for the first time in almost three decades, having won the UCL the year before. The club has been competing for four titles this season and has a German coach.

The relationship between the fans and the owners is tense. The Super League and the club were forced to change their plans after fans protested. Peter Hooton, a committee member at the Spirit of Shankly, says that as recently as this season supporters have been chanting, "The Reds have got no money, but we'll still win the league."

It is almost like a backhanded compliment.

Mikel Arteta is the coach of the team and he has shown signs of improvement this season. The club spent a lot of money last summer to bolster the squad with young talent it hopes will lay the groundwork for success in the future.

Boehly will need to deliver on-field success at a cost that ensures he can generate returns for his main financial backer. Boehly said in a text message that the firm is investing in the area.

The investment raises questions about how Clearlake might be involved with the West London club as it seeks to maximize gains for its own investors. A representative for Clearlake did not respond. The investors who put money into Clearlake will be looking for a return on their investment.

The new owner was welcomed with a chant of "Boehly, Boehly, give us a wave" at his first match since agreeing to the takeover.

Boehly says he didn't hear that.

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