Middle Eastern investment in European clubs is one of the main driving factors behind two of England’s most storied football teams, Liverpool and Manchester United, seeking new investors, Reuters reported on Tuesday quoting industry experts.
The American Glazer family, United’s owners, began looking for new investment or a possible sale last year, with British billionaire Jim Ratcliffe’s company INEOS entering the bidding process.
Fenway Sports Group, Liverpool’s owners, have also stated that they will “consider new shareholders” as the Anfield club struggles to qualify for the Champions League next season.
United and Liverpool are the most successful teams in English football, but each has only won one league title in the last decade.
Since Manchester City’s takeover by the Abu Dhabi United Group in 2008, European soccer has become a hotbed for Middle Eastern investment, while PSG has won eight league titles since Qatar Sports Investment’s takeover in 2011.
Both clubs eventually reached the Champions League final for the first time in history and were among the top five revenue-generating clubs in the 2021-22 season.
With the takeover of Newcastle United by Saudi Arabia’s Public Investment Fund (PIF), the Tyneside club is currently third in the Premier League and in the League Cup semi-finals. Newcastle have not won a major trophy in more than 50 years.
“Qatar invested in PSG and have assembled the equivalent of the Harlem Globetrotters in terms of Lionel Messi, Neymar and Kylian Mbappe,” said Neil Joyce, CEO & co-founder of CLV Group, quoted by Reuters.
“The current owners (of Liverpool and United) don’t have the finances to compete and invest on the level of these other clubs.”