I wrote earlier in the week about the potential sale of West Ham United, and cited some reported investors including from the US.
One of the most intriguing developments is the emergence of Apollo Global Management, a Private Equity (PE) giant with $840 billion in assets under management. Under the leadership of Al Tylis, Apollo recently launched Apollo Sports Capital, a dedicated sports investment strategy.
Apollo has already deployed $17 billion into sports and entertainment, including a $107.47 million senior loan to refinance Nottingham Forest’s debt and there are reports of interest in acquiring a stake in Atlético Madrid
Their key focus will be on debt and hybrid capital investment opportunities, a model that aligns with the financial needs of many clubs.
Football finance expert, Kieran Maguire believes that if the US has a good World Cup it could stir up the appetite of PE Investment into English clubs. He did exercise caution though and stated a year ago that Private Equity firms are focussed on money and return rather than football.
In the Premier League alone, a number of clubs have Private Equity involvement including Liverpool (Dynasty Equity), Manchester City (Silver Lake), Chelsea (Clearlake Capital).
Events at Manchester United suggest Private Equity involvement is a double edged sword
Across Europe’s top five leagues, over 36% of clubs now have backing from private equity, venture capital, or private debt firms. Notably, US investors account for 40% of these deals. Private equity pools money from limited partners, buys businesses, cut costs, boosts enterprise value and sells on for a return.
West Ham aren’t strangers to this, as Daniel Kretinsky’s 27% stake is held via 1890 Holdings, a sports investment platform which functions as a private equity style holding entity.
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West Ham continue to draw interest from potential investors. EXWHUemployee confirmed that some visited the club’s training ground facilities back in September. In parallel, the club has been engaged in discussions with Monarch Collective—a U.S.-based private equity firm about acquiring a 49% stake in the women’s team.
If momentum persists, significant developments by next summer appear not only feasible, but increasingly likely.