Private Credit Is Coming for Football’s Exclusive Lending Club

The Premier League is an expensive competition to succeed in, and the need to borrow heavily to fund success is only increasing. A new group of lenders are now trying to muscle in.

In recent months, teams such as Wolverhampton Wanderers and Nottingham Forest, both flirting with possible relegation, have borrowed money from relatively new players in the football business market, PGIM Inc. and Apollo Global Management respectively.

Premier League clubs are turning to debt after spending a record £3 billion ($4 billion) over the summer on new signings, with transfer fees now regularly topping £100 million for star ...