Recent academic research from Manchester University has uncovered potential vulnerabilities within the ownership structures of Premier League clubs, suggesting these frameworks could facilitate financial crimes such as money laundering. The study, published in the journal Sport in Society, scrutinizes the complex ownership models of all top-tier teams for the 2023-24 season. Researchers identified a notable prevalence of convoluted setups, including multiple legal entities and offshore registrations, which obscure the true identity of beneficial owners. This opacity raises significant concerns about the integrity and transparency of club finances. The findings highlight the need for enhanced scrutiny and regulatory measures to ensure greater accountability.

The investigation delved into the intricate ownership patterns of Premier League clubs, revealing layers of complexity that make it challenging to trace beneficial ownership. Dr. Pete Duncan, one of the lead researchers, noted that twelve out of twenty clubs have at least 10% of their holdings shrouded in secrecy. This lack of visibility extends to some of the league's most prominent teams, where full verification of shareholdings remains elusive. The research focused on three critical aspects: the presence of unnecessarily complex structures, the use of jurisdictions known for secrecy (such as offshore tax havens), and the absence of detailed information on key stakeholders.

These conditions collectively create an environment conducive to illicit activities. The study found that many clubs employ multiple enabling factors that can obscure the true nature of ownership. For instance, Manchester United boasts 13 legal entities within its ownership chain, while Aston Villa's structure involves companies registered in four overseas territories. Such arrangements raise questions about the transparency and integrity of club finances. However, the authors emphasize that their objective is not to accuse any specific individuals or entities but to highlight the structural weaknesses that could be exploited by malicious actors.

To address these concerns, the researchers advocate for increased transparency and a more rigorous approach to the Owners' and Directors' Test (ODT). They propose that an independent regulator for English football should implement enhanced due diligence and source-of-funds checks for current and prospective owners. The proposed Football Governance Bill also includes provisions for a revised ODT, requiring anyone seeking more than 25% ownership or significant influence over a club to prove their financial soundness and the legitimacy of their funding sources. These measures aim to mitigate the risks associated with opaque ownership structures and promote greater accountability within the football industry.

The study underscores the importance of reforming the regulatory framework surrounding Premier League ownership. By highlighting the potential for misuse and advocating for stricter oversight, the researchers hope to foster a more transparent and secure environment for the sport. The proposed changes seek to balance the interests of investors with the need for robust safeguards against financial misconduct, ensuring that the integrity of the Premier League remains intact.