US owners have taken over half of the Scottish Premiership – what's in it for them?
It's not just at the top, however, where American money is reshaping Scottish soccer. Six of the Scottish Premiership's 12 clubs are now American-owned. The 49ers' purchase of Rangers wasn't even the only US takeover of a Scottish club this summer: Calvin Ford, the great-great-grandson of Henry Ford, completed a deal to buy Livingston. Scotland's top division is now just one club away from having a majority of American owners.
The trend started in 2013 when Tim Keyes and John Nelms turned up at Dundee. Five years later, Mark Ogren bought Dundee United. More recently, Bournemouth owner Bill Foley invested in Hibernian, who have been owned by the Gordon family since 2019, while St Johnstone were bought by Adam Webb. All Americans and all bullish on the untapped potential of Scottish soccer.
Of course, American investment in soccer is not unique to Scotland. Half of the Premier League's 20 clubs now under US ownership following Dan Friedkin's takeover of Everton in September, adding the film producer's name to a list that includes Foley, Fenway Sports Group, the Glazers, Stan Kroenke, Todd Boehly and Clearlake Capital, Wes Edens, John Textor and Shahid Khan. Nine EFL clubs, including Birmingham City and Wrexham, are also American-owned, offering a lower on-ramp for those without the funds to go toe-to-toe with a sovereign wealth fund.
The on-ramp to get into Scottish soccer is even lower, partially explaining why so many American millionaires have looked north of the England/Scotland border to invest. While the 49ers were able to snag a majority ownership stake in Rangers for £150m ($200m), New York Jets owner Woody Johnson has agreed to pay more than that (£190m/$254m) for a smaller share (44.9%) in Crystal Palace, a club that finished 12th in the Premier League table last season. Friedkin had to pay over £400m ($535m) for Everton who have spent the last few seasons flirting with relegation.
Rangers can only look enviously over Hadrian's Wall at the self-proclaimed Best League In The World and its associated riches, but they do have access to European soccer. Indeed, the Govan club made a run to the Europa League final three seasons ago and played in the Champions League two seasons ago, earning tens of millions in the process.
Today there are more Scottish teams in Europe than ever before, largely due to the creation of the Conference League. The likes of Aberdeen, Dundee United, Hearts, Hibernian, Kilmarnock, Motherwell and St Mirren were previously locked out of continental competition on account of Celtic and Rangers' strength, all have qualified for the Conference League in recent seasons, giving them a path to continental football and associated financial rewards.
Sign up to Soccer with Jonathan Wilson
Jonathan Wilson brings expert analysis on the biggest stories from European soccer
after newsletter promotion
This along with the rise of multi-club ownership has changed the investment landscape in Scottish soccer. Hibernian are part of Foley's Black Knight network that includes Bournemouth, Auckland City and FC Lorient. Brighton owner Tony Bloom recently acquired a stake in Hearts that puts the Edinburgh club under the same umbrella as the Premier League club and Belgian champions Union Saint-Gilloise. Aberdeen have a partnership with Atlanta United.
And now, with the 49ers purchase, Rangers have a connection with Leeds United. But which club sits higher in the hierarchy? Scottish fans are insecure about their position in the food chain and the growth of multi-club ownership has only exacerbated that anxiety.
Not every new American owner has been welcomed with open arms. Motherwell supporters last year voted against a takeover by US-based Erik and Courtney Barmack, a former Netflix vice-president and a Snap Inc executive. Foley, too, has faced questions. Should Hibernian really be a feeder club to Bournemouth, a team with an average attendance of just over 11,000 last season that had until fairly recently played most of its history in the lower leagues? Perhaps not, but this is the reality of the modern game.
It's also an indication of how Scottish soccer needs help. It's been 40 years since a team not called Celtic or Rangers won the title. A study commissioned by the Scottish FA last year said the sport is 'significantly underachieving' in youth potential compared to other countries of a similar size. Just 12% of all minutes in the Scottish Premiership last season were given to players age 21 or under.
And while more Scottish teams are involved in Europe, none made it past the group stage of the most recent Conference League, a fact made starker by Irish side Shamrock Rovers' run to the knockout phase last season. The hope was that the new third-tier competition would give Scottish clubs a platform to reach new heights. Instead, it has exposed just how off the required standard they are.
There's no guarantee American money will change any of this. Nelms has been in charge at Dundee for over a decade, but has yet to turn the club into the talent factory he originally planned. St Johnstone suffered relegation for the first time in 16 years last season not long after the arrival of new owners. Their fans expected more.
The history of Scottish soccer and the passion of its fans is part of what makes it so attractive to outsider investors. So too is the sense that the Scottish game, with some new ideas and renewed ambition, could be something more. The American dream has taken on a tartan tinge.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
19 minutes ago
- The Independent
Swinney to press Trump on Scotch whisky tariffs exemption
Scotland's First Minister has vowed to press President Donald Trump to exempt Scotch whisky from US trade tariffs. John Swinney said the 'uniqueness' of whisky made in Scotland justified the exemption from the 10% tariff applied on UK exports into the US. The First Minister, who is due to hold talks with Mr Trump during his ongoing visit to Scotland, said the tariffs were currently costing the local whisky industry £4 million a week. 'Tariffs are very important for the Scottish economy and obviously scotch whisky is a unique product,' he told BBC Breakfast. 'It can only be produced in Scotland. It's not a product that can be produced in any other part of the world. So there's a uniqueness about that, which I think means there is a case for it to be taken out of the tariffs arrangement that is now in place. 'Obviously the trade deal with the United States provides a degree of stability for economic connections with the United States, but the application of tariffs is increasing the costs for the Scotch whisky industry. 'So one of my objectives will be to make the case to President Trump that Scotch whisky should be exempted from those tariffs. 'It's a product that is uniquely produced in Scotland, and it's a product that is much welcomed and supported within the United States. And I think there's a really good case for exempting Scotch whisky, and this is an opportunity that I have to put that case to President Trump on behalf of the Scotch whisky industry, which is a significant part of the Scottish economy. 'And the tariffs just now are costing the industry about £4 million each week, so it's a very significant burden on the industry. It would help growth and development within the Scottish economy if we could secure that deal. And, obviously, I'll be using every opportunity I have to try to put that across to President Trump.' Mr Trump's five-day visit to Scotland is largely a private one that has seen the president play golf at his course at Turnberry in Ayrshire ahead of opening a new course at his property in Aberdeenshire on Tuesday. Mr Swinney said the final cost of the policing the visit has yet to be worked out. 'Obviously, we're working very closely with Police Scotland and the Scottish Police Authority about the arrangements for this visit,' he said. 'The security arrangements have gone well since President Trump arrived on Friday, and that's as it should be, because we've got an obligation to make sure that when we have major international visitors, when they come to Scotland, that they are protected and able to go about their activities. Pressed to reveal the bill, Mr Swinney added: 'All of that will be worked out and we'll address that with Police Scotland and the Scottish Police Authority, and we're talking to the United Kingdom government about these questions, but it's important that we have a secure policing operation. 'It's also important that members of the public who wish to express their point of view, who want to protest about the visit or about other issues, are able to go about their exercise of their democratic right to protest. That's exactly what they've been able to do since Friday, and that's the way it should be.'
Auto Express
19 minutes ago
- Auto Express
Citroen's new SUV is £7k cheaper than a VW Tiguan
Citroen has announced pricing for its new C5 Aircross with the flagship SUV set to start from just over £30,000. The C5 Aircross will continue Citroen's 'multi-energy' platform strategy - meaning it'll be offered with a petrol hybrid and all-electric power. The Citroen C5 Aircross comes in the three trim levels you'd find across in Citroen's model range. With the 'Hybrid 145' powertrain, the C5 Aircross starts in You! guise from £30,495, before going up to £33,135 for the mid-range 'Plus' and £35,775 for the top-spec 'Max'. Choose the all-electric version of any of those trim levels and you'll pay an extra £3,570. Citroen says orders are open now with the new car arriving in showrooms from October, although if you can't wait until then you can buy a used Citroen C5 Aircross through our Find a Car service. Advertisement - Article continues below Inside the C5 Aircross you'll find a 10-inch driver's display and a 13-inch 'Waterfall' portrait-oriented touchscreen in the middle of the dash - no matter which trim you go for. The mid-spec Plus gets a 180-degree camera and 19-inch alloy wheels instead of the You! 18-inch rims, while top-spec Max adds adaptive cruise control, dual-zone air-conditioning, matrix LED headlights with adaptive high beams and a 360-degree exterior cameraOnly the top-spec e-C5 Aircross gets a heat pump as standard. The sole petrol engine is the 143bhp 1.2-litre hybrid, while the e-C5 Aicross comes with a 211bhp electric motor and a 73kWh battery that provides 323 miles of range. A 97kWh battery alternative will arrive soon which will increase power to 228bhp and a range of 423 miles, and a plug-in hybrid will also come at a later date. Our dealer network has 1,000s of great value new cars in stock and available now right across the UK. Find your new car… Find a car with the experts Hyundai slashes prices across its entire EV range Hyundai slashes prices across its entire EV range Korean brand acts swiftly to cut prices on all its electric cars, amid confusion over Government's grant scheme Congestion Charge EV exemption removal to generate over £75million per year Congestion Charge EV exemption removal to generate over £75million per year TfL is planning to raise the Congestion Charge to £18, and EV drivers will have to pay too Dacia's baby EV due in 12 months with a tiny £15k price tag Dacia's baby EV due in 12 months with a tiny £15k price tag Dacia's new model will be developed in double-quick time, and it'll be built in Europe to avoid China tariffs
The Independent
19 minutes ago
- The Independent
Almost 50,000 firms near collapse amid strain from tax hike, report claims
Nearly 50,000 UK companies are on the verge of collapse, with the retail and hospitality sectors facing the most severe impact from rising wage costs. A new report highlights that recent budget measures are placing "immense strain" on small firms across the country. The latest red flag alert from Begbies Traynor reveals a significant 21.4 per cent year-on-year increase in businesses experiencing critical financial distress, reaching 49,309 in the second quarter. Consumer-facing industries have been particularly hard hit, with bars and restaurants seeing a 41.7 per cent surge in distress. Travel and tourism firms recorded a 39 per cent leap, while general retailers experienced a 17.8 per cent jump. Begbies warned that many independent pubs may not possess the necessary scale to withstand these mounting pressures for another year without urgent action. Ric Traynor, executive chairman of Begbies Traynor, said: 'The sharp rise in critical distress underscores just how tough the economic environment is for UK businesses and it's abundantly clear that tens of thousands of firms are struggling to stay afloat. 'Small and medium sized businesses across the UK are being put under immense strain by the recent increases to employer's NI as well as the increase to the national minimum wage. 'With limited financial headroom to absorb rising costs, many businesses are now reaching a tipping point.' It is the latest sign of the toll taken on many firms by the Government's move in last autumn's budget to increase national insurance contributions (NICs) and hike the minimum wage, both taking effect in April. Labour-intense companies in particular have felt the impact, such as retailers and restaurants and bars. Troubles in the sector have been compounded by a pull back in consumer spending, according to Begbies. Julie Palmer, a partner at Begbies Traynor, said: ' Households are still grappling with their finances, and this is keeping consumer confidence volatile. 'The knock-on effect of this is clear to see in the consumer-facing sectors where margins are thin, growth is hard to come by, and the impact of higher employee costs is pushing many businesses to the brink of collapse. 'So, it is of no surprise to me that while larger pub groups might be performing well, by squeezing out extra efficiencies to counteract onerous price rises, many independent players won't have the scale to withstand the pressures of this environment for another 12 months if nothing improves.' The British Beer and Pub Association (BBPA) recently estimated that 378 pubs will close this year across England, Wales and Scotland, which it said would amount to more than 5,600 direct job losses. The wider economy is also showing signs of strain, with recent official figures revealing gross domestic product shrank by 0.1% in May, following a 0.3% drop in April. 'With no end in sight to the current economic malaise, I fear the financial burdens companies are enduring at present are simply too high for many not to avoid collapse,' said Ms Palmer.
