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Florida-based businessman Tom Piatak recently became the latest American to invest in an English professional soccer club. The CEO of Magellan Transport Logistics officially took control of Carlisle United through the Castle Sports Group back in November.
Upon completing the purchase, Piatak proclaimed that he “wanted a club with considerable commercial upside.” This was even though the Cumbrians hail from a small town in the extreme northwest corner of England. Carlisle has only ever played one Premier League season and currently competes in the third-tiered League One.
Nevertheless, Piatak, like many other American investors, sees a rare opportunity in English soccer. Rather than spend astronomical amounts of money on a team already at the top, the businessman hopes to grow Carlisle through the promotion process.
Americans are involved in 37% of all English pro soccer clubs
The Floridian touched on the concept of advancing in the English soccer system following the acquisition of the club. “I love promotion and relegation and the traditional aspects of the English game,” Piatak previously stated. “We have the opportunity to move up the leagues, which is so important.”
Investors looking to create a new Major League Soccer team have to pay a massive fee. The current expansion price to gain a new North American club is reportedly around $500 million. Established Premier League teams are even more expensive. A recent study claimed that the average English top-flight club was valued at about $1.5 billion.
As a result, many American investors are turning to smaller British teams. With Piatak’s latest move, 37% of all clubs in the English professional soccer system have some form of American ownership.
Not only do these businessmen see an opportunity for their clubs to grow due to potential promotion, but English soccer is a way to get international recognition as well.
“U.S. sports in general are ahead of European…
Source link : https://worldsoccertalk.com/news/pro-rel-fueling-american-investment-in-english-soccer-teams-20240208-WST-488318.html
Author : Chris Moore
Publish date : 2024-02-08 16:43:57
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