: Middle Eastern investment in European clubs and the collapse of a planned Super League are the main driving factors behind two of England’s most storied football teams, Liverpool and Manchester United, seeking new investors, industry experts have told Reuters.
United and Liverpool are the two most successful teams in English football but have won only one league title each in the past decade. “They need an infusion of cash in order to keep paying these transfer fees and the salaries. You don’t make money running a sports team, you make it when you sell it.
“The failure of the proposal and the failure of Premier League clubs to gain greater power in the running of the league are likely influencing factors,“ said Spencer Harris, Associate Professor of Sport Management at the University of Colorado.Harris said that the sale of Chelsea for US$5.2 billion in May to an American consortium led by Todd Boehly and Clearlake Capital as well as investment from sovereign nations were also factors in seeking new funding.
Newcastle United’s takeover by Saudi Arabia’s Public Investment Fund has also turned around their fortunes with the Tyneside club third in the Premier League and in the semi-finals of the League Cup this season. Newcastle have not won a major trophy in more than 50 years. The Glazers bought United for £790 million in 2005 while FSG took over Liverpool in a £00 million pounds deal in 2010.
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