10 Football Clubs Owned by Private Equity in 2026

Which football clubs are owned by private equity in 2026? The list, from Chelsea and AC Milan to Inter, Atlético Madrid and Lyon, and how each deal worked.

10 Football Clubs Owned by Private Equity in 2026

Private Equity Ownership Listicle 11 Oct 2026

Private equity and private credit now control some of Europe's biggest clubs. Some funds bought in. Others took over when an owner could not repay a loan. Here are ten clubs owned or controlled by investment firms in 2026, and how each deal worked.

San Siro stadium in Milan — San Siro. Both of its tenants, AC Milan and Inter, are now controlled by US investment firms. Image via Wikimedia Commons.

Funds bring capital, but they also bring a holding period. As Capital Fútbol put it in its analysis of Inter, a club's horizon becomes the fund's horizon. That makes exit planning part of club strategy from day one.

€1.2bn RedBird's price for AC Milan in 2022

12% Interest on Oaktree's 2021 rescue loan to Inter's owner

~55% Apollo's reported stake in Atlético Madrid

$400m+ Ares loan behind the Eagle Football collapse

1. Chelsea (Clearlake Capital)

Chelsea is owned by BlueCo, the consortium formed by Todd Boehly and private equity firm Clearlake Capital, which paid $5.8 billion in 2022. It remains the largest private equity-backed acquisition in football, and BlueCo has since added Strasbourg.

2. AC Milan (RedBird Capital Partners)

Gerry Cardinale's RedBird owns 99.93% of Milan after buying the club for €1.2 billion in 2022. Part of the price was financed by a roughly €560 million loan from the seller, Elliott Management, as Capital Fútbol notes.

3. Inter Milan (Oaktree Capital Management)

Oaktree never bid for Inter. In 2021 it lent €275 million to owner Suning at 12% payment-in-kind interest, secured on the club's shares. When Suning defaulted in May 2024, Oaktree enforced and took 99.6% of the club. It is the clearest example of private credit becoming a route to ownership.

Two routes in Some funds buy clubs outright, as RedBird and Apollo did. Others lend to owners and take control on default, as Oaktree did at Inter and Ares is doing at Lyon. The second route is cheaper, but it usually means inheriting a club in financial distress.

4. Atlético Madrid (Apollo Sports Capital)

Apollo's sports arm completed its majority investment on 12 March 2026, alongside approval of up to €100 million in fresh capital. The reported stake is around 55%. Ares Management remains a shareholder after buying 34% in 2021 for €181.9 million.

Atlético Madrid's Metropolitano stadium — The Metropolitano. Apollo's capital is earmarked partly for the Ciudad del Deporte district next to the stadium. Image via Wikimedia Commons.

5. Olympique Lyonnais (Ares Management)

Ares lent more than $400 million to John Textor's Eagle Football to fund the 2022 Lyon takeover. In March 2026 it appointed administrators to Eagle's holding company, citing default. By June, Ares and Michele Kang were reported to be close to a deal to take control of the club.

6. Burnley (ALK Capital)

Alan Pace's US investment firm ALK Capital took control of Burnley in 2020 in a heavily leveraged deal. It remains one of the most-watched private equity-style ownership models in English football.

7. Espanyol (ALK Capital)

ALK turned Burnley into a two-club platform when it completed its Espanyol takeover in October 2025, giving it a LaLiga foothold.

8. Hellas Verona (Presidio Investors)

US firm Presidio Investors owns 100% of Hellas Verona, one of several Serie A clubs now in American financial hands.

9. RC Lens (Amber Capital)

Joseph Oughourlian's investment manager Amber Capital controls Lens and has built links to Colombia's Millonarios and Spain's Real Zaragoza. It is one of the few fund-backed owners to deliver sustained sporting progress in Ligue 1.

10. Atalanta (Stephen Pagliuca)

Atalanta is not fund-owned, but its majority owner is one of private equity's best-known figures. Bain Capital's Stephen Pagliuca holds 55% personally, with the Percassi family holding the rest. It is a useful contrast: private equity money, but with a long-term family partner running the club.

Groupama Stadium, home of Olympique Lyonnais — Groupama Stadium. Lyon's ownership is being restructured after its lender moved against Eagle Football. Image via Wikimedia Commons.

What funds bring, and what they want back

Capital Funds can recapitalise clubs quickly, as Apollo's €100 million approval at Atlético shows.

Leverage Many deals rely on borrowed money, and critics warn that this exposes clubs to financial shocks.

An exit Every fund has a holding period. Selling the club, ideally at a higher valuation, is part of the plan from the start.

Private equity is no longer a fringe owner in football. The real test is what happens when these funds sell, and who is left holding the debt.

Football Business News
Independent coverage of football finance, ownership, investment, sponsorship, media rights, stadiums and the commercial structure of the global game.

10 Football Clubs Owned by Private Equity in 2026