EFL clubs are suffering record losses but there is no shortage of (American) investors willing to take on the challenge of trying to make it to the Premier League. Football finance expert Kieran Maguire joins Simon and Andre to dig deeper into the reasons behind the negative balance sheets.

Writer Andres Martinez is the author of a new book on American Soccer 'The Great Game - A Tale of Two Football's And America's Quesst to Conquer Global Sport' which is a deep dive into how American soccer has moved in from the fringes of society to the mainstream and how America's traditional sports are, in turn, seeking to spread their reach globally.

In this conversation with Simon Evans, host of The Soccer Business, Andres explores the role of culture and politics in keeping soccer out of the mainstream, soccer and identity in American society and the future for the sport.

This episode of the Soccer Business Podcast kicks off with a review of the week’s top headlines, beginning with the "kit war" between Nike and Adidas during recent US national team matches, where retro designs and "guerrilla marketing" took center stage. Hosts Simon Evans and Andre Da Costa celebrate the record-breaking debut of the Denver Summit, who drew 63,000 fans to an NFL stadium for their NWSL opener, and discuss the launch of Inter Miami’s state-of-the-art new stadium, the fresh home for Lionel Messi. The hosts also analyze the surprising departure of USL CEO Justin Papadakis as the league moves toward a model increasingly backed by private equity and institutional capital.

The heart of the show features an in-depth interview with financial analyst Paul Quinn on the dramatic collapse of John Textor’s Eagle Football Group. Quinn deconstructs the failures of the Multi-Club Ownership (MCO) model, explaining how Textor’s empire became trapped by high-interest "PIK loans" and a sudden collapse in French media rights. The discussion reveals how financial engineering allowed money to be moved from successful clubs like Botafogo to cover losses at Olympique Lyonnais, a strategy that ultimately failed when the holding company was placed into administration in March 2026.

Finally, the episode explores the broader implications for global soccer finance and the rising need for independent regulation. Quinn compares Textor’s risky financial structures to the Glazers’ leveraged buyout of Manchester United, highlighting the critical difference between clubs that can service their debt through cash flow and those that cannot. The conversation concludes with a look at the future of historic clubs like Lyon and Botafogo as they face potential sales, emphasizing the responsibility of owners as custodians of community assets rather than just speculative investors.

Simon and Andre report back from Atlanta on a busy week at the SBJ conference on the in North American soccer business. Arthur Blank, Mohammed Mansour and Don Garber made their marks with their contributions raising a number of big issues. Plus Will Mo Salah bring a 'Middle Eastern Messi' effect to MLS? And does women's soccer need to talk more like a business than a community venture?

Zlatan Ibrahimovic Joins Fox Sports: A Game Changer for World Cup Coverage? Is the Jordan Brand Ruining Brazil’s Iconic Kit? Why American Soccer Fans Are Talking About the '94 Denim Kit. Did Nike Miss a Trick? And Cracking the Code: How Brands Can Reach the 'New' American Soccer Fan Through Creators. Host Simon Evans is joined by regular guest Andre Da Costa and Darren Weber of Beautiful Game Consulting.

This week Simon and Andre look at Lionel Messi's growing equity stake in Inter Miami, Carlos Velas's investment in LAFC, a new soccer lifestyle product and in our deep dive Pardeep Cattry of CSB Sports joins us to discuss the new NWSL season and the KPIs that Commissioner Jessica Berman will be looking out for.

In this week's interview Nicolas Garcia Hemme, Managing Director of LaLiga North America, provides details on how the Spanish league has been sweeping up lucrative partnership deals with the likes of McDonalds and Walmart while continuing to grow their fan-base across the region. Is LaLiga replacing LigaMX as the preferred partner for brands looking to reach the Hispanic soccer fan in the USA? Plus Simon and Andre dive into the USL labor dispute and the latest NWSL valuations.

MLS Next Pro President Ali Curtis discusses the league's expansion plans, their new broadcast deal and role of the league in growing the game across the United States and much more in this week's Soccer Business interview. Plus Andre Da Costa joins Simon to go over the big stories in North American soccer business news.