Espanyol COO Brad Spiby has shared his optimism regarding ALK Capital’s multi-club ownership model, emphasizing the group’s commitment to their stewardship of both Espanyol and Burnley. He also lauded La Liga’s salary cap system, a framework often criticized for its stringency.
Multi-club ownership has become a contentious issue in recent seasons, with some groups experiencing on-field performance declines and facing accusations of neglect. However, Spiby asserted that his ownership group takes their responsibilities at each club very seriously.
“It goes without saying that this club has historically been very successful, and is a storied club, and one of the most in Spanish football. We talk a lot about it in our ownership group, about being custodians; it’s something that we wear heavily on our shoulders, but also with Burnley. Another founding club of the English league. So being custodians, and preserving what we have found at Espanyol, and leaning into what it has been historically, and use that as a superpower going forward.”
“We have the resources for both Espanyol and Burnley”
Addressing concerns about the challenges of managing multiple clubs, Spiby conveyed confidence in their capacity to adequately resource both Espanyol and Burnley.
“Obviously, a question that’s more topical by the day, and one we get asked quite a lot. The reality for us is that we have a well-resourced platform, and we would never have taken on the opportunity to be custodians of Espanyol if we did not have the resources to carry on. And so, both clubs are well-resourced, are operating on a standalone basis, as Alan has mentioned many times. And the only answer we can give is that we have the resources for both clubs.”
“The fact that Espanyol has been, and is currently in the midtable of sponsorship, goes to the current efforts of the team, given that the club hasn’t been a midtable club in the last five years, going down to the second division. So I think the starting point we’re working from is a good one, and that’s thanks to the current efforts and the support we have from Kelme and Dani.”
Spiby, who previously worked at Valencia before joining ALK Capital and Burnley, stated that their objective is to ensure Espanyol operates sustainably.
“Being a custodian for us is making sure that we’re preserving what Espanyol is, which is a historic and long-standing power of Spanish football. Our goal is to make sure we return Espanyol to that status with a self-sufficient base so that it will continue to be there for a very long time. We’re very fortunate that the previous owners have provided us with a strong financial base in that regard; it’s very effective to work from. Now it’s our job to utilize the assets that are at our fingertips, that are difficult to find across European football. It’s ultimately one of the reasons we were attracted to this club in order to return Espanyol to the upper echelons.”
“In the end, it’s the same game, and a lot of the challenges exist across both of them [leagues]. From an investor perspective, which is my initial lens, anyone that tells you that football is anything other than extremely challenging is either lying, or has a level that I’m yet to see after a few years in this industry. The first part is that both are incredibly challenging markets. That’s why we’ve decided we need to be hands-on operators at both clubs. Alan is the president of both clubs, and lives in Barcelona and lives in Burnley. So I think that’s the first part.”
Espanyol have plenty of CVC funds available
Given Espanyol’s move to the modern RCDE Stadium in 2014 and their well-equipped sports city, the club had fewer immediate infrastructure needs following the 2021 CVC deal. Spiby revealed that these funds are being reserved for future projects.
“The example for us, it’s a bit more difficult because of the fantastic fixed assets we have in the stadium in Cornellà, and the sports city we have on the other side of the city. It’s been a little bit more difficult for us to utilize those funds, but coming in as a new owner, it’s incredible to have these funds available to think about how we can develop our current assets and use that for the future. We still have those funds available for our use; those funds haven’t been used by the previous owners, so we have a lot of capital available to us to deploy and invest in the opportunities to attract new fans, but also improve the experience for our current fans. Our fans have been through a more difficult time for the club of late.”
“It’s more important to cater to our fans here first”
A recurring question for Espanyol is how they compete for attention and fans in a city dominated by the presence of FC Barcelona.
“A lot of focus goes into it externally in terms of our competition with Barcelona. But for us, it’s nothing new. With Burnley, we have Manchester City and Manchester United nearby, so you’re competing with them, and also Barcelona. When you look at the international market, you’re not just competing with teams locally, but all the teams that can take a share of the market globally.”
“For us, it’s more important that we’re catering to our fans that are already here, first and foremost. It’s a great opportunity to continue to serve the fans that are with us today, and have been with us for a long period of time through success and through more difficult times. So our priority is to make sure they have the best experience possible, and then they can be our biggest endorsers in the market. If we were to focus anywhere else, that would be a large oversight on our part.”
Spiby: “Premier League has backwards-looking system”
A significant distinction between managing Burnley and Espanyol lies in the differing spending regulations of English football and La Liga. Spanish clubs are subject to more stringent rules, with a limit of 70% of income that can be allocated to player wages and transfers before restrictions on player registration are imposed. Spiby expressed strong approval for this system.
“In terms of major differences, the big thing is how it is governed, and the financial controls that exist in both leagues. Obviously in Spain, we have the only set, currently, of forward-looking controls in European football, and the Premier League is more aligned with what exists across the rest of Europe, which is a backward-looking financial system.”
“For us, after five years at Burnley, obviously the La Liga system is different, and we’re looking to learn better every single day. We really like the La Liga system, and it creates a much more sustainable picture for football going forward. It also reduces the uncertainty for us as owners, and that can only be a good thing as investors; it reduces the cost of uncertainty, which can be quite painful across other leagues. It’s a challenge we’re learning and enjoying.”
Espanyol is preparing for their second consecutive season in La Liga after securing survival in the penultimate weekend. The club still holds a slim chance of qualifying for the Conference League. Looking ahead to the next season, Espanyol has already appointed the renowned Sporting Director Monchi to oversee recruitment, and he is expected to collaborate with Burnley as well.
