The multi-club ownership model is one of modern football’s most controversial debates but one from which Arsenal owner Stan Kroenke has mainly excluded himself.
True, the 77-year-old billionaire owns the MLS franchise Colorado Rapids, but fans of that club will tell you that Kroenke Sports & Entertainment (KSE) are essentially absentee landlords.
The Rapids have been pining for infrastructure improvements and investment in the squad for years but Stan Kroenke has not acquiesced. As a result the Rapids are often ranked as the least valuable team in the MLS, where valuations generally are skyrocketing.
In any case, the relationship between Arsenal and the Rapids doesn’t appear to qualify as a multi-club network in any sense except for the fact that they share the same owner.
Infographic explaining the concept of multi-club networks and ownership in football
Infographic explaining the concept of multi-club networks and ownership in football CREDIT: Adam Williams / GRV Media
It certainly isn’t a model akin to the Red Bull network or Manchester City’s City Football Group, where costs are pooled, resources shared, players circulated around the system, and a collective brand shared.
Seemingly, that is the kind of network that Mikel Arteta would like.
Earlier this season, Arteta admitted that he is an admirer of the multi-club model: “It is something that a lot of clubs have at the moment.
“So, that restriction in the country has provoked that many other clubs have now, like sister clubs or multi-club systems to be able to do that.
“So, looking ahead in the future it’s something basically to explore because obviously with the actual system it’s very, very difficult.
“Every club is very different in the way that they are set up and the clubs that they have picked are various.
“But in our way, it’s obviously a decision from our ownership and the board to understand what is the best thing for the club in the future.”
It isn’t just Red Bull and City who are in the multi-club racket. There are now dozens if not hundreds of these networks. Over half the clubs in the Premier League operate under this model.
Club Shareholder Other clubs owned
Arsenal Stan Kroenke / Kroenke Sports & Entertainment Colorado Rapids
Aston Villa V Sports Vitória S.C.
Bournemouth Black Knight Football & Entertainment FC Lorient, Auckland FC, Hibernian FC
Brighton & Hove Albion Tony Bloom Royale Union Saint-Gilloise
Brentford Best Intentions Analytics Mérida AD
Chelsea BlueCo (Todd Boehly & Clearlake Capital) RC Strasbourg
Crystal Palace Eagle Football Holdings (John Textor) Olympique Lyonnais, Botafogo, RWD Molenbeek, FC Florida
Everton Friedkin Group AS Roma, AS Cannes
Leicester City King Power Group OH Leuven
Manchester City City Football Group New York City FC, Melbourne City, Girona FC, Yokohama F. Marinos, Mumbai City FC, Montevideo City Torque, Lommel SK, Troyes AC, Palermo FC, EC Bahia
Manchester United INEOS (Sir Jim Ratcliffe) OGC Nice, FC Lausanne-Sport, RC Abidjan
Newcastle United Public Investment Fund (Saudi Arabia) Al-Nassr, Al-Hilal, Al-Ahli, Al-Ittihad
Nottingham Forest Evangelos Marinakis Olympiacos, Rio Ave
Southampton Sport Republic Göztepe S.K., Valenciennes FC
West Ham United Daniel Křetínský Sparta Prague
There is another type of network which is not necessarily a formal relationship but one where clubs benefit from friendly links between owners.
Could Arsenal now be about to take advantage of this kind of alliance?
Walton family linked with Sheffield Wednesday takeover, Arsenal links clear
Not only is Stan Kroenke extraordinarily independently wealthy with a net worth of £13.5bn, he is also married into the richest family in America.
The Walton family own the Walmart chain of supermarkets and have a combined net worth of around £320bn. Stan Kroenke is married to Ann Walton, the Walmart heiress.
Photo by AAron Ontiveroz/The Denver Post
Photo by AAron Ontiveroz/The Denver Post
The chairman of Walmart is Greg Penner, who is married to Carrie Walton. Together, alongside Carrie’s father Rob Walton – who is Ann Walton’s cousin – they own the NFL franchise Denver Broncos.
The Walton-Penner group – in whom, incidentally, Formula One’s Lewis Hamilton is a minority investor – has recently been linked with a £100m deal to take over Championship side Sheffield Wednesday.
Wednesday are also said to be the subject of interest from Saudi Arabia, though the identity of the group or individual from the Gulf state isn’t known.
If the Walton-Penner group do invest in Sheffield Wednesday, there will be several links between the Owls and Arsenal.
Apart from the Walton family connection, both Kroenke Sports & Entertainment and the Walton-Penner group are NFL franchise owners. Stan Kroenke owns the LA Rams.
Photo by Ed Sykes/Sportsphoto/Allstar via Getty Images
Photo by Ed Sykes/Sportsphoto/Allstar via Getty Images
“You want great partners in these leagues, and I’ve known Rob and Carrie for over five decades,” Kroenke said in 2022 after the Walton-Penner group bought the Broncos.
“I’m not exactly sure how long I’ve known Greg, but it’s been between three and four decades, for sure.
“They’ll do a wonderful job, and having people you know you can count on, that are forward-looking, that are progressive and want to invest in the facilities and communities they’re in, that’s a big deal.”
The Walton-Penner group would surely have grand ambitions for Sheffield Wednesday in their own right, so it wouldn’t be the kind of feeder club that Mikel Arteta might want for Arsenal.
It would, however, be interesting to see how the two ownership groups cooperated in English football.
The relationship between Sheffield Wednesday and current owner Dejphon Chansiri has broken beyond repair and the Walton-Penner group would be welcomed with open arms at Hillsborough.
Stan Kroenke immersive technology platform COSM wins award
Kroenke is known for investing in sports-adjacent businesses and using his teams as lightning rods for investment in other industries.
With Arsenal planning to expand the Emirates Stadium, the expectation within the football finance industry is that KSE want to create a commercial complex as they have with the SoFi Stadium in Los Angeles and Ball Arena in Denver.
Chart showing Arsenal's annual matchday income compared to an average of the other Big Six clubs, Liverpool, Manchester City, Manchester United, Tottenham and Chelsea
Arsenal matchday income compared to the other ‘Big Six’ clubs Credit: Adam Williams/TBR Football/GRV Media
But the Kroenkes are looking beyond physical, bricks-and-mortar presence within sport. They’re also very interested in immersive technology – if you can’t get the people to Arsenal, why not take Arsenal to the people?
Towards this end, Kroenke has invested in COSM, a shared immersive reality experience that has gone viral on several occasions when it has screened Premier League matches this season.
Now, respected outlet Sports Business Journal has given COSM their sports business breakthrough of the year award.
Kroenke has brought the COSM experience to the SoFi stadium and the company is planning to open new venues worldwide soon.
Could a new-look Emirates Stadium be one of its next outposts?