The recent summer left several European clubs under pressure following the enforcement of UEFA’s multi-club ownership (MCO) rules. Among those affected was Crystal Palace, which was relegated to the Conference League after a controversial decision due to its majority shareholder, John Textor, also having a stake in Lyon, another European club. The situation has sparked debate over the complexity of UEFA’s rules and the need to reconsider deadlines and requirements to demonstrate regulatory compliance.

Beyond Palace, other clubs such as Drogheda and Dunajska Streda also faced sanctions, being excluded from European competitions. This scenario has put UEFA under pressure to evaluate whether the March 1 deadline to separate ownership structures should be postponed, as the organization seeks to balance competition integrity with the viability of multiclub investment models.

Controversy over deadlines and blind trusts

The debate revolves around the early March 1 deadline, which replaced the previous June 1 date. Clubs argue that this change was decisive for their European competition outcomes, while UEFA emphasizes the need to ensure compliance with MCO rules. Cases like Nottingham Forest, which benefited from Palace’s issues by ascending to the Europa League, have raised questions about the effectiveness of mechanisms such as blind trusts to separate owners from direct club management.

Sources from multiclub operations claim these strategies do not always fully disconnect owners from their teams. The lack of clarity and the rapid enforcement of rules cause confusion, especially for smaller clubs, which are most affected by strict deadlines and requirements. This situation has led UEFA and the European Club Association to consider potential adjustments to prevent the issues seen last summer.

New multiclub models and the professionalization of the sector

Meanwhile, investors like Xander Czaikowski, CEO of Estrella Football Group, are pursuing a more collaborative, horizontal approach to managing minority stakes in multiple clubs. The goal is to generate value through similarly sized operations without focusing solely on the sporting results of a single team, marking a shift from the traditional vertical, controlling MCO model.

However, existing models will remain under intense scrutiny. Fan groups such as Ultra Boys 90 of Racing Strasbourg continue to question the influence of holdings on club management, while UEFA seeks a balance between investment and governance. Educating investors and ensuring clubs’ financial sustainability remain central challenges for the future of European football.