Private credit lenders target English clubs with squad-backed loans

Private credit targets English soccer clubs with player-backed loans

The novel loans are sized according to the value of a playing squad and sometimes involve the lender only taking security over hypothetical receivables.

Everton & other writings by Paul Quinn, The Analysis Series, Talking the Blues & the esk PodcastsThe Analysis Series: Squad-value financing in football, private credit, unsold players and the return of mark-to-model lending

Prepared by Paul Quinn  / CWTE Limited Date: 16th October 2026 Summary Squad-value financing is high-cost, short-tenor private credit. It is sized against a mark-to-model estimate of what unsold players might fetch, but in practice it is secured on the club's whole balance sheet.  It provides liquidity, not solvency or accounting profit. Given the current…

Private credit lenders target English clubs with squad-backed loans

Private credit funds are exploring loans to English football clubs based on the value of their playing squads, according to a report by the Financial Times. Discussions over “squad-value financing” are reportedly increasing among clubs and lenders, according to specialist football advisers. Some proposed structures would give lenders security over receivables from potential future player sales. The approach extends beyond established financing a…