An idea taken to new levels by City Football Group is mushrooming in popularity but with mixed success
ne lesson from all of this is that it’s difficult to be at two clubs,” said a reflective Nancy president, Gauthier Ganaye, after their relegation to France’s third tier last month. Feted as English football’s youngest chief executive after joining Barnsley for a spell in 2018 at the age of 30, Ganaye spent last season juggling his role at Nancy with being executive president of the Belgian club KV Oostende.
At least the investors had something to celebrate at the end of May when Kaiserslautern – the four-times German champions who sold a 10% stake to a US consortium consisting of New City Capital’s Chien Lee and Pacific Media Group’s Paul Conway in March – beat Dynamo Dresden in the promotion playoffs to return to Germany’s second tier for the first time since 2018.
There are strong whispers that Qatar Sports Investments – which has transformed Paris Saint-Germain into a European superpower thanks to its endless financial reserves – is attempting to build a portfolio of clubs after watching the majority Abu Dhabi-owned CFG take its expanding empire into double figures with the acquisition of the French club Troyes in 2020. CFG failed in an attempt to buy Breda in April after a furious backlash from fans of the Dutch club.
The multi-club phenomenon can be traced back much further, to a landmark case at the court of arbitration for sport in 2000 regarding two stakes owned by Enic, the company through which the English businessman Joe Lewis later bought Tottenham.
That has not been the only triumph for Blitzer, who was also behind Martin Broughton’s failed bid for Chelsea last month that, if successful, would have meant relinquishing his Palace shares. His Dutch club, Den Haag, missed out on promotion to the Eredivisie in the playoffs and his Belgian team, Waasland-Beveren, came close to returning to the top flight, six years after relegation.
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