The scale of Mergers and Acquisitions (M&A) in the football industry hit its peak in 2025, according to market monitoring by Off The Pitch. The volume of transactions grew significantly compared to 2024 and previous years, confirming the increasing dynamism of the European football ownership market. The 2025 data highlights several key trends: a higher overall number of deals, a clear rise in majority takeovers, and a significantly stronger presence of U.S. investors compared to the past.
A Record-Breaking Year for Deal-Making A total of 78 football M&A deals were concluded in 2025, up from 62 in 2024, making it the most active year on record. According to Tommy Aylmer, Managing Director of Tifosy Capital & Advisory, this surge is driven by a combination of factors: Continued interest from U.S. investors. The ongoing expansion of multi-club ownership (MCO) groups. Growing appetite for clubs outside of the traditional elite. Majority Stakes and Rising Deal Values The most striking difference between 2024 and 2025 lies in the structure of the deals.
While minority investments remained stable, the rise in majority acquisitions accounted for most of the growth in transaction volume. Majority ownership allows investors to exercise broader strategic control and better align clubs with long-term commercial and sporting goals, particularly within larger multi-club platforms.
The average transaction value also saw a significant spike, reaching €113 million in 2025, compared to €43.9 million in 2024. This figure was heavily influenced by a single “mega-deal”: Apollo’s acquisition of a 55% stake in Atlético Madrid, valued at nearly €1.4 billion. The Dominance of American Capital U.S. investors were involved in 40 of the 78 deals concluded in 2025, representing more than half of the total market activity. Key American involvements this year include: Woody Johnson’s investment in Crystal Palace. Andrew Cavenagh and the San Francisco 49ers entering Rangers FC. ALK Capital’s acquisition of Espanyol (adding to their ownership of Burnley). The historic Apollo Global Management agreement with Atlético Madrid. Looking Ahead: Spain in the Spotlight for 2026 Experts predict that Spain’s La Liga will become an increasingly attractive market in 2026 due to solid financial regulations, UEFA competition access, and lower valuations compared to the Premier League. Furthermore, a seismic shift is expected at Real Madrid. Traditionally resistant to outside capital, President Florentino Pérez recently confirmed intentions to open the club’s share structure, potentially selling up to 10% of the club to third-party investors.