The Premier League, described as the UK's greatest soft power export, is characterised by its ownership structure, which includes a deputy prime minister of Abu Dhabi, the public investment fund of Saudi Arabia, and a billionaire based in Monaco for tax reasons, alongside various investors and private equity funds.
Regulating these powerful global entities has proven challenging, as evidenced by the Manchester City case. A leaked email from City's in-house lawyer during UEFA's action against the club reportedly threatened to "spend 30 million on the 50 best lawyers in the world to sue them for the next 10 years."
The current state of the Premier League is seen as a consequence of a long-standing approach to ownership. Richard Scudamore, the former chief executive, was known for being "neutral about ownership models," which essentially meant accepting money without excessive scrutiny of its origins.
While English football clubs still represent their communities, this relationship can be strained by the globalised entertainment economy. Chelsea, for example, has seen a Russian oligarch forced to sell and a subsequent American co-owner sell his minority stake due to external investigations.