Wrexham vs. Birmingham and the American invasion of English football

"Malcolm Glazer's $1.5 billion takeover of Manchester United in 2005 made him the Premier League's first-ever American owner. Now, 20 years later, the four most successful clubs in English football history-Liverpool, Manchester United, Arsenal, and Chelsea-are all majority-owned by Americans. The 2008 financial crisis accelerated the trend. The U.S. economy recovered faster than Europe's, creating a surplus of capital among moguls wealthy enough to covet professional sports teams and an opportunity to buy overseas clubs at a discount. That arbitrage remains."

"In May 2022, Todd Boehly and private equity firm Clearlake Capital bought Chelsea, one of the Premier League's marquee clubs, for $3.2 billion. Just over a year later, Josh Harris purchased the Washington Commanders for $6.05 billion, nearly double what Boehly paid. Celebrity involvement was limited until Reynolds and McElhenney made their splash in 2021. They bought Wrexham-a fifth-tier Welsh club-for just $2.5 million."

American investors and celebrities increasingly own English football clubs, with 12 of the Premier League's 20 teams now under U.S. ownership wholly or partially. Nine Championship clubs also have American backing. Malcolm Glazer's 2005 takeover of Manchester United initiated the trend, and the 2008 financial crisis accelerated it as U.S. capital recovered faster than Europe's, enabling purchases at discounts. Major transactions include Todd Boehly and Clearlake Capital buying Chelsea for $3.2 billion in May 2022 and Josh Harris purchasing the Washington Commanders for $6.05 billion a year later. Celebrity ownership expanded after Ryan Reynolds and Rob McElhenney purchased Wrexham for $2.5 million in 2021.

Read at Fast Company