Power and ownership of football clubs: the creation of Multi-Club Networks

• Grant number: 25/09931-4
• Support Opportunities: Scholarships abroad - Research Internship - Doctorate
• Start date: October 01, 2025
• End date: August 31, 2026
• Field of knowledge: Humanities - Geography - Human Geography
• Principal Investigator: Samuel Frederico
• Grantee: Jonathan Ferreira
• Supervisor: Jean-Michel de Waele
• Host Institution: Instituto de Geociências e Ciências Exatas (IGCE). Universidade Estadual Paulista (UNESP). Campus de Rio Claro. Rio Claro , SP, Brazil
• Institution abroad: Université Libre de Bruxelles (ULB), Belgium
• Associated to the scholarship: 24/13535-4 - Financialization and control of football clubs: the formation of Multi-Club Networks, BP.DR

Abstract

This research critically examines Multi-Club Networks (MCNs) as expressions of financial and institutional transformations in global football governance. The study aims to construct a typology of MCNs based on structural and strategic dimensions, using criteria such as number of clubs, control structures, capital origin, and investment strategies. The central hypothesis is that certain typologies may correspond to greater institutional presence and regulatory reach, while others remain peripheral. By analyzing how these ownership structures interact with the regulatory environments of different football federations, this study explores the varying degrees of political and financial influence exerted by each type of MCN.Global football is undergoing rapid financialization, with corporate entities acquiring multiple clubs. Different MCNs adopt distinct strategies based on territorial, financial, and regulatory dynamics. Eagle Football Holdings gradually expands across leagues, preserving club identities while fostering synergies. Conversely, 777 Partners pursued rapid accumulation without financial stability, leading to its collapse and the transfer of its clubs to A-Cap. These cases highlight the importance of distinguishing between types of MCNs and raise the question of whether different models produce varying levels of influence and strategic behavior in football governance. This reinforces the need for a typology that captures both structural and intentional differences among MCNs.Methodologically, this research employs qualitative case studies, document analysis, and Social Network Analysis (SNA) to investigate governance structures, power dynamics, and economic concentration within MCNs. It incorporates a proprietary dataset from the Observatório Social do Futebol (Social Football Observatory), updated annually, to analyze ownership concentration and network interconnections. The study also examines ownership stakes to assess how MCNs influence club governance, mapping shareholder distributions and cross-ownership patterns. SNA will uncover structural relationships and control hierarchies, providing insights into political and financial power in football governance. Ultimately, this research aims to develop a ranking system measuring ownership concentration and governance influence within MCNs, offering a systematic assessment of power structures in global football. (AU)