Ownership, collapse, licensing jeopardy & remedial pathways This article provides a financial and strategic analysis of RWDM Brussels FC (Racing White Daring Molenbeek), examining the club’s journey since its acquisition by […]
Olympique Lyonnais Groupama Stadium debt – in the context of Eagle Football Holdings Bidco Limited’s administration
This article continues the in-depth analysis of Eagle Football Holdings, details of which can be found on this page On March 27, 2026, Ares utilised a qualifying floating charge, which had been […]
The Analysis Series, a detailed look at the accounts of Eagle Football Group SA (EFG), formerly OL Groupe SA, the Euronext Paris-listed parent company of Olympique Lyonnais
Eagle Football Group Universal Registration Document-2024-2025 This is Eagle Football Group’s Universal Registration Document (referred to as URD or document in this report) for the fiscal year ended 30 June 2025, filed […]
Systemic collapse of Eagle Football Holdings must bring highly leveraged multi-club operations to a swift end
Eagle Football Holdings was initially marketed to global investors and regulatory bodies as a synergistic, highly integrated multi-club ownership (MCO) model, encompassing Olympique Lyonnais in France, Botafogo de Futebol e Regatas in […]
The Analysis Series: Crystal Palace Football Club: Fiscal year 2024/25 and outlook
Crystal Palace Annual Report & Accounts 2024/25 The fiscal year 2024/25 provided unprecedented on-pitch success and a complete restructuring of the club’s institutional balance sheet. Categorised in recent years as a mid-tier […]
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: Eagle Football Holdings insolvency will satisfy none of the constituent clubs, nor their fans – particularly Botafogo
Analysis of Eagle Football Holdings insolvency: Debt, inter-company receivables, and the status of Botafogo SAF claims As of April 2, 2026, the governance and structural integrity of the conglomerate has evolved from […]
The Analysis Series, Concluding the Eagle Football Analysis – RWDM Brussels
The emergence of multi-club ownership (MCO) has fundamentally re-calibrated the financial and operational parameters of professional football. At the heart of this was John Textor’s Eagle Football Holdings, a corporate structure designed […]
The Analysis Series, continuing the Eagle Football analysis – Botafogo
The formal acquisition of Botafogo SAF occurred in the wake of a desperate need for capital. In December 2021, the club reached an agreement in principle to sell 90% of its shares […]
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 […]
The Everton takeover saga – further analysis of the potential Textor bid
The Everton takeover saga rolls on. The latest developments involve John Textor talking openly to the media about his desire to buy Everton and how he plans to go about achieving it. […]
Everton’s ownership, Moshiri & John Textor – Part II
The Everton ownership conundrum continues to meander along a not so merry path, a path littered with many kicked cans. It is now 51 weeks since Moshiri confirmed his desire to sell […]
Everton, Moshiri & John Textor – part I
A couple of weeks ago I wrote about why Everton’s ownership issues needed resolving urgently and why John Textor was not the answer to our many problems as a football club even […]