											Source
NFLAmerican football	Limited	10%	30% (control person)	2024-08	No count set; all funds together may hold up to 10%, with a 3% minimum per fund.	An approved fund may hold stakes in up to 6 NFL teams; ownership groups are capped at 25 members.	6-year minimum hold; no voting or governance rights; at most 20% of a fund in one team; no investor above 7.5% of a fund; $2bn fund floor.	Acquisition debt limit raised in May 2024 to a $1.4bn total for new buyers; Private Equity Wire (2026) puts the combined cap at $1.5bn.	NFL owners (24 of 32 votes to change ownership rules; the fund rule passed 31-1)	4	Clifford Chance 2026-09-29
NBABasketball	Yes	20%	15%	2026-09	All institutional investors together: 30%.	A fund may hold stakes in up to 8 teams (raised from 5, effective 2025-12-03); a fund co-investing with its own executive may hold no other NBA team.	5-year minimum hold; no governance rights; sponsor must have $750m in assets; at most 25% of a fund in one team; players may invest up to 5% through an NBA-approved fund.	unverified	NBA Board of Governors	8	Clifford Chance 2026-09-29
MLBBaseball	Yes	20%	15%; a fund may not hold more than the controlling owner	2026-09	All institutional investors together: 30% (Clifford Chance: “presumably” unchanged).	No cap on the number of MLB teams one fund may invest in.	5-year hold; no operational control; a fund's stake may not exceed the controlling owner's stake.	unverified	MLB owners (club owners' vote)	6	Clifford Chance 2026-09-29
NHLIce hockey	Yes	20%	unverified	2021-12	All institutional investors together: 30%.	A fund may hold minority stakes in up to 5 NHL teams.	5-year hold; no operational control; $20m minimum investment; the 20% cap can be exceeded with league consent.	unverified	NHL Board of Governors	4	Clifford Chance 2026-09-29
MLSFootball	Yes	20%	unverified	2021-11	All institutional investors together: 30%.	A fund may hold stakes in up to 4 MLS teams; investors may also hold equity in the league itself if affiliated with a team.	5-year hold; investment above $20m; no board seat or voting rights; fund needs $500m; at most 10% of a fund in one club and 25% across MLS; no investor above 25% of a fund; controlling owner holds ROFO and drag rights.	unverified	MLS owners (2020 vote)	5	Clifford Chance 2026-09-29
WNBABasketball	Yes	unverified	unverified	unverified	unverified	unverified	unverified	unverified	unverified	1	SportBusiness/Sportcal 2026-03
NWSLFootball	Yes	20%	unverified	2024-02	All institutional investors together: 30%.	A fund may hold passive minority stakes in up to 3 teams, or a majority stake in only one team.	Minority stakes of 5-20%; 5-year hold; multi-team funds need $100m committed capital.	unverified	NWSL owners/Board of Governors	4	Clifford Chance 2026-09-29
Premier LeagueFootball	Yes	unverified	No minimum; acquiring 25% (“Control”) needs Board approval under the owners' test	2025-11-21	unverified	A significant interest in one club bars holding shares in another; the exact threshold in the Handbook was not verified.	Acquiring 'Control' (25%, lowered from 30% on 2023-03-30) needs advance declaration and Board approval under the OADT, reviewable by the Independent Oversight Panel; stakes below 25% need no change-of-control approval.	Acquisition Leverage Test caps acquisition debt at 65% of acquisition equity (tested pre-deal and at 6/12 months); Squad Cost Ratio (85% of revenue) replaces PSR from 2026/27 and excludes asset sales to associated parties.	Premier League Board (OADT), subject to Independent Oversight Panel review; from 2025 the statutory Independent Football Regulator also tests owners.	5	Sky Sports 2025-11-21
EFLFootball	Yes	unverified	No minimum; “Control” is 25% (cut from 30% in June 2023) and needs EFL approval	2026-05-15	unverified	unverified	Holders above 10% of voting rights must be disclosed (press report).	Squad Cost Rules (85% of income plus a £33m three-year equity top-up, max £15m a season) replace P&S from 2026/27 and include safeguards on owner/associated-party commercial deals.	EFL Board (OADT); Independent Football Regulator also covers the top five men's tiers.	6	Derby County FC (reproducing EFL statement) 2026-05-15
Independent Football RegulatorFootball	Yes	unverified	An “owner” is anyone above 25% of shares or votes, or with significant influence	2025-12-08	unverified	unverified	unverified	IFR can set financial regulation for club sustainability and force sales by unsuitable owners.	Independent Football Regulator (top five tiers of English men's football)	–	UK Government (DCMS) 2025-12-08
Bundesliga (50+1)Football	Limited	unverified	The members' club must hold 50% of the votes plus one	2026-08-12	All outside investors together: under 50% of the votes; no cap on economic stake found.	unverified	The parent members' association must hold 50% of voting rights plus one vote; investors may hold minority votes, sit on supervisory boards and take dividends.	unverified	DFL / Bundesliga e.V. (licensing), with the Bundeskartellamt reviewing 50+1 under competition law	1	beck-aktuell 2026-08-12
La LigaFootball	Yes	unverified	No minimum; reaching 25% of a club's votes needs prior CSD authorisation	unverified	unverified	Anyone holding 5% or more of one SAD's votes cannot hold 5% or more in another SAD in the same professional competition or sport; clubs/SADs cannot invest in another SAD in the same competition.	Reaching 25% or more of an SAD's voting rights requires prior Consejo Superior de Deportes authorisation (deemed granted after three months' silence; refusable if it would distort the competition).	unverified	Consejo Superior de Deportes (CSD)	3	Boletín Oficial del Estado 1999-07-16
Serie AFootball	Yes	unverified	No minimum; buyers above 10% face FIGC honourability and financial checks	2022-07-28	unverified	NOIF art. 16-bis bans direct or indirect stakes, management or control in more than one professional club (incl. relatives to the fourth degree); legacy cases must comply by the start of 2028/29.	Acquirers of more than 10% must meet FIGC honourability and creditworthiness requirements, with fines of up to €200,000 for late documentation.	unverified	FIGC (National Licensing system)	4	ItaliaOggi 2026-07-20
Ligue 1Football	Yes	unverified	unverified	2026-08-03	unverified	Code du sport art. L122-7 bars one private person from exclusive/joint control or notable influence over several French sports companies in the same discipline (fine €45,000); foreign clubs are not covered, and a June 2026 bill to extend it was replaced by tighter controls.	Code du sport art. L132-2 tasks the DNCG with reviewing purchase, sale and change-of-shareholder projects; the 2026 law adds a DNCG power of opposition with sanctions.	The DNCG validates club budgets, can cap payroll and can relegate a club administratively.	DNCG (LFP/FFF); leagues enforce L122-7	3	L'Officiel des Métiers 2026-08
UEFA (multi-club)Football	Yes	unverified	Decisive influence presumed at 30% of shares or votes, or 10% as largest shareholder	2026-06-01	unverified	Art. 5.01 bars anyone from control or decisive influence over more than one club in the same UEFA competition, assessed on 1 March; blind trusts were accepted exceptionally for 2024/25 (Girona, Nice), not guaranteed later.	unverified	2026 licensing rules widen ownership disclosure and limit intra-group income to club-related activity.	UEFA Club Financial Control Body (First Chamber), appealable to CAS	–	Calcio e Finanza 2026-05-22
IPLCricket	Yes	unverified	unverified	unverified	unverified	IPL owners may own teams in other leagues (SA20, ILT20, MLC, CPL, The Hundred); offshore buyers follow India's ODI rules.	Franchise agreements impose shareholder lock-ins and BCCI transfer fees; minority transfers do not automatically need change-of-control approval.	unverified	BCCI, with the IPL Governing Council; the Competition Commission of India for control deals	3	BusinessDay (Reuters) 2026-05-03
Formula 1Motorsport	Yes	unverified	unverified	unverified	unverified	There are no FIA regulations forbidding one entity from owning stakes in several teams; Red Bull owns two (Racing Bulls is grandfathered), and McLaren asked the FIA in May 2026 for a ban, with no rule change reported.	No league-level rule found; minority transfers are governed by team shareholder terms (for example, Renault's veto on any sale of Otro's Alpine stake ran until September 2026).	unverified	unverified	3	The Race 2026-05-29
The HundredCricket	Yes	unverified	unverified	2025-08-01	unverified	No limit found; IPL owners (Reliance, RPSG, Sun, GMR) and MLC owner Washington Freedom bought teams.	Investors committed to a minimum five-year period to the end of 2030 and took operational control from 2025-10-01, generally in partnership with the host club.	unverified	ECB, which keeps the competition and governance rights over future sales	8	Sky Sports 2025-08-01
NRLRugby league	Limited	unverified	unverified	unverified	unverified	unverified	unverified	unverified	NRL/ARLC (club licences; club names and brands are ARLC-controlled trademarks)	1	Norton Rose Fulbright 2021-08-19

What this means

The North American leagues now let funds in, but only as passive minority partners under a stake cap, with a single lead owner holding a set floor. In European football we found no fund-specific stake cap: a buyer who passes the owners’ test may take control, and the limits that bite are on owning two clubs that could meet, or, in Germany, on outside control of the club at all. A blank marked unverified means we could not source it, not that no rule exists.

Every rule, league by league

NFL American football · North America

PE funds allowed

Limited: Only league-approved funds (Arctos, Ares, Sixth Street, and a consortium now without Blackstone and CVC) may buy passive stakes; adopted 2024-08-27 by a 31-1 vote.

Max stake per fund

10%

Funds per team

No count set; all funds together may hold up to 10%, with a 3% minimum per fund.

Lead owner

30% (control person)

Passive / minority stakes

6-year minimum hold; no voting or governance rights; at most 20% of a fund in one team; no investor above 7.5% of a fund; $2bn fund floor.

Multi-team limits

An approved fund may hold stakes in up to 6 NFL teams; ownership groups are capped at 25 members.

Debt

Acquisition debt limit raised in May 2024 to a $1.4bn total for new buyers; Private Equity Wire (2026) puts the combined cap at $1.5bn.

Approval

NFL owners (24 of 32 votes to change ownership rules; the fund rule passed 31-1)

Last changed

2024-08

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
Private Equity Wire, NFL to maintain 10% PE ownership cap despite MLB and NBA changes (2026-09-25)
Front Office Sports, MLB Raises Private Equity Ownership Limit to 20% (2026-09-22)
NFL.com, NFL owners vote to allow private equity funds to buy stakes in teams (2024-08-27)
Indianapolis Business Journal (AP), NFL owners OK private equity stakes in teams of up to 10% (2024-08-27)
Insider Sport (citing Sportico), NFL increases debt limit for new buyers (2024-05-24)
Front Office Sports, NFL Owners' Debt Limit Could Increase To $1.6B (2023-09-25)

Deals

4 on the Capital Tracker

NBA Basketball · North America

PE funds allowed

Yes: Passive minority fund stakes have been allowed since 2021; a 2026-09 revision lets a firm and its executives invest in the same team.

Max stake per fund

20%

Funds per team

All institutional investors together: 30%.

Lead owner

15%

Passive / minority stakes

5-year minimum hold; no governance rights; sponsor must have $750m in assets; at most 25% of a fund in one team; players may invest up to 5% through an NBA-approved fund.

Multi-team limits

A fund may hold stakes in up to 8 teams (raised from 5, effective 2025-12-03); a fund co-investing with its own executive may hold no other NBA team.

Debt

unverified

Approval

NBA Board of Governors

Last changed

2026-09

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
Front Office Sports, MLB Raises Private Equity Ownership Limit to 20% (2026-09-22)
Pipeline Road (citing Private Equity Wire), NBA revises private equity investment rules as $12.5bn Lakers deal is proposed (2026-09-21)
Clifford Chance, From Five to Eight: NBA Further Loosens Private Equity Ownership Rules (2026-01-05)
Boston Globe, Bill Chisholm Celtics sale (2025-05-15)

Deals

8 on the Capital Tracker

MLB Baseball · North America

PE funds allowed

Yes: Owners voted in summer 2026 to raise the single-fund cap from 15% to 20%; the change was not publicly announced.

Max stake per fund

20%

Funds per team

All institutional investors together: 30% (Clifford Chance: “presumably” unchanged).

Lead owner

15%; a fund may not hold more than the controlling owner

Passive / minority stakes

5-year hold; no operational control; a fund's stake may not exceed the controlling owner's stake.

Multi-team limits

No cap on the number of MLB teams one fund may invest in.

Debt

unverified

Approval

MLB owners (club owners' vote)

Last changed

2026-09

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
Front Office Sports, MLB Raises Private Equity Ownership Limit to 20% (2026-09-22)
The Sun Papers, MLB Lifts Private Equity Stake Cap to 20%, Matching NBA Rules (2026-09-22)

Deals

6 on the Capital Tracker

NHL Ice hockey · North America

PE funds allowed

Yes: The Board of Governors approved institutional investors in December 2021; Arctos (Lightning, Wild) was first.

Max stake per fund

20%

Funds per team

All institutional investors together: 30%.

Lead owner

unverified

Passive / minority stakes

5-year hold; no operational control; $20m minimum investment; the 20% cap can be exceeded with league consent.

Multi-team limits

A fund may hold minority stakes in up to 5 NHL teams.

Debt

unverified

Approval

NHL Board of Governors

Last changed

2021-12

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
Front Office Sports, FOS PM: NHL opens to private equity (2021-12-10)
Sportico, NHL private equity ownership (2021-12-09)

Deals

4 on the Capital Tracker

MLS Football · North America

PE funds allowed

Yes: Owners approved PE investment in 2020; the qualification rules were published in 2021.

Max stake per fund

20%

Funds per team

All institutional investors together: 30%.

Lead owner

unverified

Passive / minority stakes

5-year hold; investment above $20m; no board seat or voting rights; fund needs $500m; at most 10% of a fund in one club and 25% across MLS; no investor above 25% of a fund; controlling owner holds ROFO and drag rights.

Multi-team limits

A fund may hold stakes in up to 4 MLS teams; investors may also hold equity in the league itself if affiliated with a team.

Debt

unverified

Approval

MLS owners (2020 vote)

Last changed

2021-11

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
Front Office Sports, MLS Adjusts Private Equity Ownership Requirements (2021-11-08)

Deals

5 on the Capital Tracker

WNBA Basketball · North America

PE funds allowed

Yes: A fund has bought in: Monarch Collective's March 2026 stake in the Cleveland expansion team, reported as the league's first PE investment. No published fund cap found.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

unverified

Multi-team limits

unverified

Debt

unverified

Approval

unverified

Last changed

unverified

Sources

SportBusiness/Sportcal, Monarch Collective enters WNBA with Cleveland expansion side stake (2026-03)

Deals

1 on the Capital Tracker

NWSL Football · North America

PE funds allowed

Yes: Multi-team funds are limited to passive minority stakes; a fund invested in only one team may own up to 100% (e.g. Sixth Street at Bay FC); sovereign wealth funds are excluded.

Max stake per fund

20%

Funds per team

All institutional investors together: 30%.

Lead owner

unverified

Passive / minority stakes

Minority stakes of 5-20%; 5-year hold; multi-team funds need $100m committed capital.

Multi-team limits

A fund may hold passive minority stakes in up to 3 teams, or a majority stake in only one team.

Debt

unverified

Approval

NWSL owners/Board of Governors

Last changed

2024-02

Sources

Clifford Chance, From Fifteen Percent to Twenty Percent: MLB Expands Private Equity Ownership of Franchises (2026-09-29)
The GIST, NWSL issues ownership rules for private equity and sovereign wealth fund investment (2024-03-04)

Deals

4 on the Capital Tracker

Premier League Football · England

PE funds allowed

Yes: Funds may own clubs if they pass the OADT and funding checks (e.g. Clearlake-backed Chelsea); the 2024 OADT bars approval where acquisition debt exceeds 65% of acquisition equity.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

No minimum; acquiring 25% (“Control”) needs Board approval under the owners' test

Passive / minority stakes

Acquiring 'Control' (25%, lowered from 30% on 2023-03-30) needs advance declaration and Board approval under the OADT, reviewable by the Independent Oversight Panel; stakes below 25% need no change-of-control approval.

Multi-team limits

A significant interest in one club bars holding shares in another; the exact threshold in the Handbook was not verified.

Debt

Acquisition Leverage Test caps acquisition debt at 65% of acquisition equity (tested pre-deal and at 6/12 months); Squad Cost Ratio (85% of revenue) replaces PSR from 2026/27 and excludes asset sales to associated parties.

Approval

Premier League Board (OADT), subject to Independent Oversight Panel review; from 2025 the statutory Independent Football Regulator also tests owners.

Last changed

2025-11-21

Sources

Sky Sports, Premier League clubs approve new Squad Cost Ratio rules to replace PSR (2025-11-21)
Norton Rose Fulbright, Application of the new Premier League owners' and directors' test (2024-08)
Premier League, Premier League statement: Owners' and Directors' Test (2023-03-30)
GOAL, What is the Premier League 'Owners' and Directors' Test'? (2022-03-22)

Deals

5 on the Capital Tracker

EFL Football · England

PE funds allowed

Yes: No fund-specific ban found; buyers (including multi-investor groups) clear the OADT plus source-and-sufficiency-of-funds and future financial information checks.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

No minimum; “Control” is 25% (cut from 30% in June 2023) and needs EFL approval

Passive / minority stakes

Holders above 10% of voting rights must be disclosed (press report).

Multi-team limits

unverified

Debt

Squad Cost Rules (85% of income plus a £33m three-year equity top-up, max £15m a season) replace P&S from 2026/27 and include safeguards on owner/associated-party commercial deals.

Approval

EFL Board (OADT); Independent Football Regulator also covers the top five men's tiers.

Last changed

2026-05-15

Sources

Derby County FC (reproducing EFL statement), EFL statement: Championship clubs approve changes to financial control rules (2026-05-15)
UK Government (DCMS), Football Governance Act becomes law in historic moment for English football (2025-07-21)
Chelsea Supporters' Trust (CST), How to buy a football club (2023-09-20)

Deals

6 on the Capital Tracker

Independent Football Regulator Football · England

PE funds allowed

Yes: The Act sets statutory owners' and directors' tests rather than banning any investor type; the guidance names limited-partnership general partners as typical controllers.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

An “owner” is anyone above 25% of shares or votes, or with significant influence

Passive / minority stakes

unverified

Multi-team limits

unverified

Debt

IFR can set financial regulation for club sustainability and force sales by unsuitable owners.

Approval

Independent Football Regulator (top five tiers of English men's football)

Last changed

2025-12-08

Sources

UK Government (DCMS), Football Governance Act 2025: Statutory guidance on the meaning of 'significant influence or control' (2025-12-08)
UK Government (DCMS), Football Governance Act becomes law in historic moment for English football (2025-07-21)
Sky Sports, Independent Football Regulator to begin work this year as Football Governance Act becomes law (2025-07-21)

Bundesliga (50+1) Football · Germany

PE funds allowed

Limited: Investors can put capital into a club's football company but cannot take voting control, which must stay with the members' club under 50+1.

Max stake per fund

unverified

Funds per team

All outside investors together: under 50% of the votes; no cap on economic stake found.

Lead owner

The members' club must hold 50% of the votes plus one

Passive / minority stakes

The parent members' association must hold 50% of voting rights plus one vote; investors may hold minority votes, sit on supervisory boards and take dividends.

Multi-team limits

unverified

Debt

unverified

Approval

DFL / Bundesliga e.V. (licensing), with the Bundeskartellamt reviewing 50+1 under competition law

Last changed

2026-08-12

Sources

beck-aktuell, 50+1 darf bleiben, DFL muss aber nachbessern (2026-08-12)
Bundesliga e.V., Stellungnahme zur finalen Bewertung der 50+1-Regel durch das Bundeskartellamt (2026-08-12)
Bundeskartellamt, 50+1 rule – Effects of the ECJ's case law and next steps in the proceeding (2024-05-29)
Bundeskartellamt, DFL offers commitments in the 50+1 proceeding (2023-03-08)
Bundesliga.com, 50+1 rule explained (2023-03-03)

Deals

1 on the Capital Tracker

La Liga Football · Spain

PE funds allowed

Yes: No fund-specific ban found; any natural or legal person needs prior CSD authorisation to reach 25% of an SAD's votes (CVC's 2021 deal is a 10% stake in LaLiga's commercial vehicle, not clubs).

Max stake per fund

unverified

Funds per team

unverified

Lead owner

No minimum; reaching 25% of a club's votes needs prior CSD authorisation

Passive / minority stakes

Reaching 25% or more of an SAD's voting rights requires prior Consejo Superior de Deportes authorisation (deemed granted after three months' silence; refusable if it would distort the competition).

Multi-team limits

Anyone holding 5% or more of one SAD's votes cannot hold 5% or more in another SAD in the same professional competition or sport; clubs/SADs cannot invest in another SAD in the same competition.

Debt

unverified

Approval

Consejo Superior de Deportes (CSD)

Last changed

unverified

Sources

Boletín Oficial del Estado, Real Decreto 1251/1999 sobre sociedades anónimas deportivas (consolidated) (1999-07-16)

Deals

3 on the Capital Tracker

Serie A Football · Italy

PE funds allowed

Yes: Funds may own clubs outright; FIGC applies honourability and financial-strength requirements to anyone acquiring more than 10% of a professional club.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

No minimum; buyers above 10% face FIGC honourability and financial checks

Passive / minority stakes

Acquirers of more than 10% must meet FIGC honourability and creditworthiness requirements, with fines of up to €200,000 for late documentation.

Multi-team limits

NOIF art. 16-bis bans direct or indirect stakes, management or control in more than one professional club (incl. relatives to the fourth degree); legacy cases must comply by the start of 2028/29.

Debt

unverified

Approval

FIGC (National Licensing system)

Last changed

2022-07-28

Sources

ItaliaOggi, Calcio, multiproprietà sotto accusa: come funzionano le regole in Italia e in Europa (2026-07-20)
BeBeez International, Investing in Italian football, what foreign investors must know (2025-03-03)

Deals

4 on the Capital Tracker

Ligue 1 Football · France

PE funds allowed

Yes: Funds may own clubs outright; the August 2026 sports law tightened DNCG review of share sales rather than banning multi-club owners.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

Code du sport art. L132-2 tasks the DNCG with reviewing purchase, sale and change-of-shareholder projects; the 2026 law adds a DNCG power of opposition with sanctions.

Multi-team limits

Code du sport art. L122-7 bars one private person from exclusive/joint control or notable influence over several French sports companies in the same discipline (fine €45,000); foreign clubs are not covered, and a June 2026 bill to extend it was replaced by tighter controls.

Debt

The DNCG validates club budgets, can cap payroll and can relegate a club administratively.

Approval

DNCG (LFP/FFF); leagues enforce L122-7

Last changed

2026-08-03

Sources

L'Officiel des Métiers, Loi n° 2026-725 du 3 août 2026: la grande réforme du sport professionnel (2026-08)
Assemblée nationale, Première séance du lundi 20 juillet 2026 (CMP text on professional sport) (2026-07-20)

Deals

3 on the Capital Tracker

UEFA (multi-club) Football · Europe

PE funds allowed

Yes: UEFA doesn't restrict investor type; it bars common control or decisive influence over two clubs in the same UEFA competition.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

Decisive influence presumed at 30% of shares or votes, or 10% as largest shareholder

Passive / minority stakes

unverified

Multi-team limits

Art. 5.01 bars anyone from control or decisive influence over more than one club in the same UEFA competition, assessed on 1 March; blind trusts were accepted exceptionally for 2024/25 (Girona, Nice), not guaranteed later.

Debt

2026 licensing rules widen ownership disclosure and limit intra-group income to club-related activity.

Approval

UEFA Club Financial Control Body (First Chamber), appealable to CAS

Last changed

2026-06-01

Sources

Calcio e Finanza, Tra lo stop ai casi tipo Chelsea e la stretta sulle multiproprietà: le novità del regolamento UEFA sul FPF (2026-05-22)
The Esk (Paul Quinn), Navigating multi-club ownership under UEFA Article 5 – the Friedkins, Everton & AS Roma (2026-03-27)
UEFA, The CFCB First Chamber renders decision on Crystal Palace and Olympique Lyonnais (2025-07-11)

IPL Cricket · India

PE funds allowed

Yes: PE firms can own franchises: CVC (Irelia) won the Ahmedabad franchise in 2021, and Blackstone's BXPE is part of the consortium that agreed in March 2026 to buy 100% of RCB.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

Franchise agreements impose shareholder lock-ins and BCCI transfer fees; minority transfers do not automatically need change-of-control approval.

Multi-team limits

IPL owners may own teams in other leagues (SA20, ILT20, MLC, CPL, The Hundred); offshore buyers follow India's ODI rules.

Debt

unverified

Approval

BCCI, with the IPL Governing Council; the Competition Commission of India for control deals

Last changed

unverified

Sources

BusinessDay (Reuters), Steel tycoon Lakshmi Mittal heads $1.65bn bid for IPL's Rajasthan Royals (2026-05-03)
Blackstone, Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone acquire cricket franchise Royal Challengers Bengaluru (2026-03-24)
S&R Associates, Investing in the IPL: The Legal Playbook for IPL Franchise Investments (2026-02-05)
Business Today, Torrent Group acquires 67% stake in Gujarat Titans; BCCI gives approval (2025-03-18)
Newslaundry, From Adani to Jindal to the Glazers: The race is on for a new IPL team (2021-10-23)

Deals

3 on the Capital Tracker

Formula 1 Motorsport · Global

PE funds allowed

Yes: Funds hold F1 teams: Dorilton Capital bought Williams (2020); Otro Capital, RedBird and Maximum Effort hold 24% of Alpine Racing Ltd (2023); MSP Sports Capital and Ares held McLaren Racing stakes until the September 2025 buyout.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

No league-level rule found; minority transfers are governed by team shareholder terms (for example, Renault's veto on any sale of Otro's Alpine stake ran until September 2026).

Multi-team limits

There are no FIA regulations forbidding one entity from owning stakes in several teams; Red Bull owns two (Racing Bulls is grandfathered), and McLaren asked the FIA in May 2026 for a ban, with no rule change reported.

Debt

unverified

Approval

unverified

Last changed

unverified

Sources

The Race, Mercedes backs out of race for Alpine F1 stake - What you need to know (2026-05-29)
PlanetF1, Zak Brown writes FIA letter calling for Formula 1 team ownership rule changes (2026-05-14)
Black Book Motorsport, Why are Toto Wolff and Christian Horner interested in Alpine F1 stake? (2026-03-10)
TimesLIVE (Reuters), Bahrain, Abu Dhabi funds take full ownership of McLaren Racing (2025-09-03)
Black Book Motorsport, F1 agrees commercial framework with teams for 2026 onwards (2025-03-17)
The Race, McLaren and Red Bull are both wrong in their messy row (2024-02-22)
Renault Group, Alpine Racing Ltd finalises the sale of 24% of its share capital for EUR200m to investor group led by Otro Capital (2023-12-18)
Motor Authority, Williams F1 team sold to US investment firm Dorilton Capital (2020-08-21)

Deals

3 on the Capital Tracker

The Hundred Cricket · England

PE funds allowed

Yes: In the 2025 sale, the ECB sold its 49% in each team; buyers included Knighthead Capital (Birmingham Phoenix 49%) and Cain International with Ares Management (Trent Rockets 49%).

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

Investors committed to a minimum five-year period to the end of 2030 and took operational control from 2025-10-01, generally in partnership with the host club.

Multi-team limits

No limit found; IPL owners (Reliance, RPSG, Sun, GMR) and MLC owner Washington Freedom bought teams.

Debt

unverified

Approval

ECB, which keeps the competition and governance rights over future sales

Last changed

2025-08-01

Sources

Sky Sports, The Hundred: Takeovers of six franchises completed as ECB pledges £500m grassroots investment (2025-08-01)
ESPNcricinfo, Hundred sale explainer: Who has bought what and for how much? (2025-02-14)
ESPNcricinfo, ECB finalises process for Hundred private investment (2024-05-30)

Deals

8 on the Capital Tracker

NRL Rugby league · Australia

PE funds allowed

Limited: Clubs are member-owned, privately owned (e.g. Warriors; Broncos ASX-listed) or hybrid (Souths, Manly), and the NRL has rejected multiple PE bids for partial club ownership.

Max stake per fund

unverified

Funds per team

unverified

Lead owner

unverified

Passive / minority stakes

unverified

Multi-team limits

unverified

Debt

unverified

Approval

NRL/ARLC (club licences; club names and brands are ARLC-controlled trademarks)

Last changed

unverified

Sources

Norton Rose Fulbright, Is bigger always better? The commercial and legal challenges of expanding the NRL (Part II) (2021-08-19)

Deals

1 on the Capital Tracker

How this is measured

One row per league or governing body. Every cell is taken from a league document, a governing-body statement or a report by a named outlet, and each row lists its sources with their publication dates. A cell we could not source is left blank and marked unverified (63 across the board) rather than filled from memory. League rules are often confidential; where only press reports describe them, the press report is the source.

“Max per fund” is the largest stake one fund may hold in one team. “Lead owner” is the minimum the controlling owner must hold, or the control test the league applies. “Last changed” is the latest change to the ownership rules we could date. The deals count links to that league’s transactions on the Sports Capital Tracker.