How blind trusts are helping address integrity concerns in multi-club ownership structures (Man City & Man Utd cases)

In two multi-club ownership related cases^[1] last year, the First Chamber of the UEFA Club Financial Control Body (CFCB) ultimately accepted the admission of:

• Girona FC and Manchester City FC to the 2024/25 UEFA Champions League, and

• Manchester United FC and OGC Nice to the 2024/25 UEFA Europa League.

The decision was arrived at after the clubs - which are part of the same corporate structure -implemented measures to prevent potential conflicts of interest under the multi-club ownership rules provided for in Article 5 of the UEFA club competitions regulations.  

This article examines the steps that the clubs took to bring them into compliance with UEFA’s regulations. It then examines the “blind trust” structure that formed the basis of the mechanism to mitigate potential conflicts of interest.

• Facts and background
• The CFBC’s approval of a blind trust structure
• How common are conflict of interest problems? (The recent Club León case)
• How blind trusts can help
• What are the main criticisms of using blind trusts?
• Possible alternatives