The complete disintegration of Eagle Football Holdings multi-club ownership acts as a huge warning shot to regulators and fans alike regarding the globalisation of what remains (and should remain) independent local […]
The Analysis Series: Financial architecture of 22 Holdco Limited: Analysis of Ares Management’s credit exposure, warrants, and embedded derivative structures within the Blueco consortium
For anyone wanting an understanding of how Chelsea are funded and how Ares operate this is a must read: Summary and macro-financial context The global sports finance landscape has undergone a profound […]
Shifting tides of private capital: Analysis of the US Private Credit market and its influence on Global Sports
The global financial system is currently navigating a period of (at best) structural realignment, following the meteoric rise of private credit as a primary source of corporate and specialised finance. Historically a […]
The Analysis Series: Continued analysis of the Eagle Football Holdings collapse, updated with the Botafogo-Olympique Lyonnais litigation
What began as an ambitious attempt by American businessman John Textor to combine the talent-rich Brazilian football market with the commercial infrastructure of European leagues has culminated in a series of high-stakes […]
The Analysis Series: Financial evolution of Eagle Football Group: Analysis of EBITDA and operational performance (2021–2026)
Football is a high risk business. Financial performance is determined by success on the pitch, the security of media rights deals, player acquisition and disposal, the cost and form of capital […]
The Analysis Series: Analysis of Ares Capital Corporation and Eagle Football Holdings Bidco Limited debt architecture
With the appointment of administrators, Cork Gully, in London’s High Court on Friday 27th March 2026, a detailed analysis shows Ares (the lender and security agent) rights and what happens to the […]
The Analysis Series: Ares Management Corporation: Credit, Capital Structure, and the Football Investment
ARES and football investment Ares Management Corporation (ARES) is an established, leading global alternative investment manager, distinguished by its asset-light, fee-centric business model. The firm’s strategy encompasses complementary primary and secondary investment […]