Teams in England’s top two divisions are taking sizeable loans from Macquarie, at times mortgaged against future TV earnings
It was once dubbed the “vampire kangaroo” and accused of “feasting on Britain’s creaking infrastructure” after investing in companies such as Thames Water and avoiding tax through a legal but controversial web of subsidiaries in Luxembourg and the Cayman Islands. But Macquarie Group Limited is a growing influence on English football, underlined on one day last month by Leicester and Wolves extending sizeable loans with the
Australian investment bank that are mortgaged against future TV earnings.
Now with a portfolio that also includes Bournemouth, Crystal Palace, Middlesbrough, Sheffield United, Southampton, Swansea City, Watford, West Brom and Wolves, a company estimated to manage almost £288bn worth of assets has emerged as the second-biggest lender, behind Barclays bank, in an industry where owners continue to chase the dream. Since 2013, and encouraged by increased transparency in the game following the introduction of Uefa’s financial fair play regulations, Macquarie estimates that it has completed more than $1.5bn in loans across Europe’s major leagues, specialising in “transfer financing” and “media and sponsorship rights monetisation”.