The Football Capital Tracker · Weekly digest · Week of 31 October to 6 November 2026 · Last updated: 6 November 2026
The week in football capital
This was a week of capital being raised and positions being unwound, not of new club lending. Apollo was the main mover: it opened a €10bn European credit platform and, for the first time, put a figure of $7bn on Apollo Sports Capital. Ares’ record fundraising quarter sits beside football credits that remain visibly under strain. On the owner side, Mark Walter’s sell-down has reached Cadillac F1, while he insists the Dodgers will not be sold. No charges have been reported in the federal investigation, and TWG Global continues to deny wrongdoing. The open question this week is Burnley’s parent, Velocity Capital (UK) Holdings. The press now reports that the strike-off action has been discontinued, but the public register does not yet clearly show either the 2026 notice or its withdrawal. The pattern holds: the large managers grow their platforms while the weakest football credits stay the least visible.
Events this week
| Date | Firm | Event type | Football exposure | Tracker entry |
|---|---|---|---|---|
| 6 Nov (report) | ALK Capital / Velocity Capital; Fasanara; CCM (Corrum) | Distress or enforcement | Burnley’s parent company | Updated below |
| 5 Nov (report) | Dynasty Equity; RedBird and Arctos (via FSG) / 1892 Holdings | Equity or ownership stake | Liverpool | New, below |
| 5 Nov (published) | Public Investment Fund | Equity or ownership stake | Newcastle United, £95m equity | New, below |
| 3 Nov | Apollo Sports Capital | Fund raise | Atlético de Madrid, Wrexham, Nottingham Forest lending | Entry |
| 2 Nov | Apollo (European Credit Company) | Fund raise | European club lending | Entry |
| 2 Nov | Mark Walter / TWG Global | Equity or ownership stake | Former Chelsea / BlueCo co-owner | Entry |
| 30 Oct to 6 Nov | Mark Walter / Guggenheim | Litigation or regulatory | As above | Watching, below |
| 29 Oct (published 1 Nov) | Ares Management | Fund raise | Chelsea / BlueCo, Olympique Lyonnais / Eagle, Atlético | Entry |
Burnley: the strike-off reported withdrawn, and the accounts still not filed
Event type: Distress or enforcement · Update to the 1 November entry
Football Insider reported on 6 November that the compulsory strike-off action against Velocity Capital (UK) Holdings Ltd (14755517), the ALK Capital vehicle above Burnley, has been discontinued (Football Insider via Yahoo). The report gives no date. When we last checked the Companies House filing history, it showed the February 2025 Gazette notice and its discontinuance in March 2025, but no 2026 Gazette entry and no accounts filed at any point since incorporation in March 2023. The most likely reading is that the 2026 action was halted before the notice reached the Gazette. Until the register shows it, we treat the withdrawal as reported, not confirmed.
Why it matters. Withdrawing a strike-off removes the immediate threat of dissolution, but it does nothing to fix the underlying problem. The company that controls a licensed club, and over which CCM holds an outstanding charge, still has no public accounts. For Fasanara and the other lenders to the group, and for the Independent Football Regulator, the gap in what can be seen remains exactly as it was.
Liverpool: a route to control for the new minority owners, and an exit for FSG’s institutional investors
Event type: Equity or ownership stake · Status: press only, unconfirmed
The Athletic reported on 5 November that 1892 Holdings, the Amit Bhatia-led consortium that has agreed to buy 38% of Liverpool from Fenway Sports Group for a reported £3bn, would have at least two further options once the Independent Football Regulator ratifies it as part-owner. The first is a structure taking it to 69% and control. The second is a full buyout of FSG. Completion of the 38% stake is reportedly expected before a December deadline (The Athletic, as reported by BritBrief). The consortium includes Eduardo Saverin and an investment from Jeff Bezos’s K5 Global sports fund. Neither the club nor FSG has published the option terms.
Why it matters. The buyers are not the institutional capital this tracker follows. On the seller side, though, Dynasty Equity has held a direct minority stake in Liverpool since 2023, and RedBird and Arctos are investors in FSG. A staged move to control would be an exit event for those positions. Their treatment will show how institutional sports capital leaves a Premier League club when the owner it backed sells.
Newcastle: PIF puts another £95m in as equity, not debt
Event type: Equity or ownership stake
Newcastle United’s majority owner, Saudi Arabia’s Public Investment Fund, has put a further £95m into the club through new share capital recorded at Companies House. The full analysis is in The Analysis Series: Newcastle United’s £95m equity injection.
Why it matters. Sovereign capital that arrives as equity carries no interest cost and no lender security. That sets it apart from most of the funding this tracker records. As the analysis shows, though, it buys time and assets, not a lower squad cost.
Watching: Walter, Guggenheim and the year-end deadline
There was no new legal step this week. Walter said on 30 October that his group’s financial commitment to the Dodgers would continue as before, and MLB’s commissioner said the league will take no action until the federal investigation concludes (Dodger Blue). No charges have been reported. TWG Global has denied wrongdoing. Market commentary points to a 31 December deadline for reducing roughly $20bn of related-party assets held by the Walter-linked insurers. That figure has not been confirmed by any regulator or company filing, and we treat it as unconfirmed. The deadline matters because it is what drives the sales already recorded on this tracker, including the exit from Chelsea.
Developing stories to watch
- Burnley / Velocity Capital: ALK says the accounts will be filed in the coming weeks. We are watching the register for an accounts filing and for any record of the 2026 strike-off action.
- Liverpool / 1892 Holdings: completion of the 38% stake is expected before the December deadline. We are watching for the IFR suitability determination.
- Walter-linked insurers: the reported 31 December deleveraging deadline (unconfirmed), and any statement from SDNY or the SEC.
- Olympique Lyonnais and Botafogo: the timetable for Michele Kang’s Olympe Bidco offer for OL Groupe, and creditor approval of the Botafogo SAF sale to GDA Luma within Botafogo’s judicial recovery.
Press-only items are marked unconfirmed and name their outlet. Allegations are reported as allegations, with the subject’s stated position. Inclusion follows the tracker’s published test.
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