Explore the Nine Layers

The framework behind every move in football.

05
AGENCIES

The agents and agencies moving the market.

The manager isn't the unit anymore. The cluster is.
TRENDL5Agencies
The manager isn't the unit anymore. The cluster is.

Hiring a manager now buys the whole backroom. Is coaching now M&A?

8 min read
People Shaping the Game

The operators, investors and influencers redefining football.

Explore the Full Ledger

Search and browse all 50 pieces across every layer.

50 pieces · matching current filters
MACRO
Can football inflation be controlled?

Twenty years of financial rules have made football's spending safer — not smaller. The regimes that measure after the fact keep hosting record windows; the ones that gate a…

18 Sep 2026 · 9 min read
PROFILE
Five buyers for one voice.

His club and hotels lose money. The one asset the market keeps buying is his voice.

12 Sep 2026 · 9 min read
PROFILE
The Chairman of Everything.

He owns none of it — yet he chairs PSG, beIN and Europe’s clubs, and sits on the FIFA Council.

05 Sep 2026 · 8 min read
CASE STUDY L3 ·
The club that sells a lake.

Como rose to the Champions League in six years. But does it pay for itself?

20 Aug 2026 · 7 min read
CASE STUDY L3 · CLUBS/MCO
Barcelona's crisis and recovery

Barcelona sold its future to survive. Real recovery — or borrowed time?

20 May 2026 · 9 min read
MACRO L1 · GEOGRAPHY · CYCLES
USA — the next mega-cycle

US soccer built its audience over 20 years. Why is capital only arriving now?

18 Apr 2026 · 5 min read
TREND L1 · GOVERNANCEIn production
FIFA's continuous calendar

FIFA now runs a mega-event nearly every year. Sanctioning body — or rights machine?

In production
TREND L1 · GOVERNANCEIn production
National regulators arrive

The UK just put football under a state regulator. Who's next — and why now?

In production
TREND L1 · GOVERNANCEIn production
UEFA under legal pressure

Three legal fronts are closing in on UEFA at once. How much control is left?

In production
TREND L2 · LEAGUESIn production
DTC or die

No broadcaster bid, so Ligue 1 built its own platform. Does DTC actually pay?

In production
TREND L2 · LEAGUESIn production
League-level PE infrastructure

CVC turned league revenue into a PE asset. Now everyone wants the structure.

In production
TREND L2 · LEAGUESIn production
Premier League exports the model

Leagues from Riyadh to MLS are copying the Premier League. Does the model travel?

In production
TREND L2 · LEAGUESIn production
SPL privatisation

PIF is selling down its Saudi clubs. Privatisation — or just repackaged control?

In production
TREND L3 · CLUBS/MCOIn production
Group-HQ talent arms race

Multi-club groups are hiring 80-person HQ teams from outside football. Why?

In production
TREND L3 · CLUBS/MCOIn production
Mid-tier MCO blow-up risk

777 collapsed, Eagle is stressed. How many multi-club groups blow up next?

In production
TREND L4 · CAPITALIn production
Selling claims, not clubs

Football stopped selling clubs. So what are owners actually selling?

In production
TREND L4 · CAPITALIn production
Family offices get organised

Family-office money is turning institutional on football. What changes?

In production
TREND L4 · CAPITALIn production
Permanent capital structures

Club ownership is a 20-year game. Why the money is moving to evergreen funds.

In production
TREND L4 · CAPITALIn production
Sports-tech VC matures

Sports-tech VC just crossed €1bn. Why specialists win and generalists overpay.

In production
TREND L6 · MEDIAIn production
Club-as-media-company matures

Every top club now runs its own channel. Can they become real media businesses?

In production
TREND L7 · COMMERCIALIn production
Category power-shifts

Fanatics quietly owns football merch end-to-end. Who else is moving upstream?

In production
TREND L8 · FOOTBALL-TECHIn production
The AI-native football-tech stack

AI is rebuilding scouting, tagging and injury prediction at once. Who owns it?

In production
TREND L9 · STADIUM/FANIn production
Stadium revenue engineering

Premium seats now drive a fifth of matchday revenue. How far can clubs push it?

In production
MACRO GEOGRAPHY · MENAIn production
MENA's second wave

MENA moves from buying stars to building operations. Second wave — or overreach?

In production
MACRO AI · OPERATIONSIn production
AI-native football operations

A few clubs are rebuilding operations around AI. Does the org chart change shape?

In production